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Business Taxation Newfoundland and Labrador has one of the most favourable business tax climates in Canada. Our Corporate Income Tax rates are amongst the lowest in the country. The Harmonized Sales Tax has resulted in the removal of tax on business inputs. Unlike many provinces, Newfoundland and Labrador does not impose a general capital tax. While Newfoundland and Labrador imposes a 2% payroll tax, the exemption threshold relieves virtually all small businesses from this tax. A number of credits and incentives are designed to encourage economic growth in strategic areas. Types of Business Taxes
Links of Interest  Tax
e-Filing Tax Credits, Incentives and Benefits, Dept. of Finance Economic Diversification and Growth Enterprises Program, Dept. of Industry, Trade and Rural Development
Information respecting various taxes may be obtained from the Taxation and Fiscal Policy Branch. Taxation and Fiscal Policy Branch Department of Finance P.O. Box 8700 St. John’s, Newfoundland A1B 4J6 Telephone: (709) 729-6297 or 1-877-729-6376 Collection Inquiries: 1-877-729-1695 Facsimile: (709) 729-2856 E-mail: taxadmin@mail.gov.nl.ca |
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