Vancouver, BC – The Council of Forest Industries (COFI) welcomed today’s release of the report by the Commission on Tax Competitiveness, an independent panel established earlier this year to consult and review B.C.’s corporate tax structure and develop recommendations that would drive economic growth in the province.
“The B.C. forest sector is a trade-dependent industry with our high-quality products shipped around the globe,” said Susan Yurkovich, President and CEO of the Council of Forest Industries. “Our industry competes with producers in many other parts of the world, so ensuring we have a competitive tax environment in our province is critical if we are going to sustain our sector and attract capital investment to B.C.”
“We are pleased to see the recommendations to exempt business capital expenditure, including machinery and equipment, from PST in the short-term, and also to exempt business use of electricity when feasible,” added Yurkovich. “These recommendations will make B.C. more competitive with other jurisdictions and encourage capital investment and job-creation in this province, especially in regional and resource-dependent communities.”
The Council of Forest Industries is the voice of the B.C. interior forest industry. COFI members produce lumber, pulp and paper, panels and engineered wood products at more than 60 facilities across the interior. All share a commitment to a future based on employee safety, sustainable forestry and manufacturing practices, and innovative product development.
Mina Laudan 778.990.0701