British Columbia Proposes New Tax System For Natural Gas

Law360, New York (February 19, 2014, 2:59 PM EST) -- British Columbia Finance Minister Michael de Jong on Tuesday unveiled a new proposal for taxing the local liquefied natural gas industry, a plan the Canadian province estimates will generate about $250 million annually.

The British Columbia government is proposing a two-tiered system for taxing the liquefaction of natural gas at local LNG facilities. Net proceeds generated from LNG projects would be taxed at an initial rate of 1.5 percent, with the rate increasing to as much as 7 percent once a company has finished paying off...
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