VANCOUVER SUN – Experts mull complexity of B.C.’s new LNG tax

By Derrick Penner
Vancouver Sun

Separating provincial profits from other operations could be tricky for global giants, accountant says

For potential liquefied-natural-gas producers in British Columbia, separating which of their profits come from activities in the province — versus their foreign operations — for the purposes of B.C.’s new LNG tax could be the biggest issue raised by the levy that was introduced this week, according to one expert.

Draft legislation tabled by Finance Minister Mike de Jong Tuesday calls for a two-tiered levy from income on gas-liquefaction activity in B.C., separate from regular federal or provincial income taxes.

“For foreign proponents who already have robust LNG activities outside of Canada, this is probably the biggest issue with this legislation,” said Byron Beswick, a partner in the tax practice of the accounting and consulting firm EY.

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THE GLOBE AND MAIL – B.C. promises world-leading emissions targets for LNG industry with new law

Victoria — The Globe and Mail
Published Monday, Oct. 20 2014, 5:11 PM EDT

The British Columbia government has introduced a new law that aims to build a liquefied natural gas industry with what it promises are “world-leading” targets for the lowest greenhouse-gas emissions.

“As the cleanest-burning fossil fuel, natural gas is part of a global climate solution,” Environment Minister Mary Polak said in the legislature as she introduced the Greenhouse Gas Industrial Reporting and Control Act.

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FINANCIAL POST – British Columbia to unveil details of the new LNG tax the industry is waiting for within days

Julie Gordon, Reuters
October 20, 2014 11:07 AM ET

VANCOUVER — British Columbia is set to unveil the details of its long-awaited liquefied natural gas (LNG) tax regime within days, which could sway investment decisions on a handful of proposed export terminals in the Pacific Coast province.

The provincial government, which is banking on the nascent LNG industry to create thousands of new jobs and add billions to government coffers, has promised the new tax legislation will be introduced this week.

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