A Surrey Board of Trade policy calling for A PST REBATE ON PRODUCTION INPUTS has passed at the BC Chamber of Commerce Annual General Meeting and Conference in Kamloops.
The Surrey Board of Trade recommends: That the Provincial Government, until there is a VAT, exempt production machinery, equipment and technology from the Provincial Sales Tax.
“Until such a time as the provincial government institutes a Value Added Tax (VAT), manufacturers are paying the Provincial Sales Tax (PST) on a variety of inputs required for the creation of a product. Most provinces do not do this, and as a result, there is a competitive imbalance for B.C.’s manufacturers. To address the imbalance, a rebate for the PST on inputs is required, specifically for machinery, equipment and technology,” said Anita Huberman, CEO, Surrey Board of Trade.
The Policy received two-thirds of votes to pass and is now official BC Chamber policy and will be advocated by the Surrey Board of Trade and the BC Chamber of Commerce to appropriate levels of government over 2018-19.
“The Surrey Board of Trade is proud to see this policy pass and receive support from our peers across the province,” said Anita Huberman, CEO Surrey Board of Trade.
The BC Chamber of Commerce AGM and Conference is held in a different BC community each year. The event is the largest annual business policy forum in the province. Every year, member Chambers of the BC Chamber develop and submit policies for the consideration of their peers. This year, 52 policies were up for debate at the BC Chamber of Commerce AGM.
