Improved tax holiday: a measure that will boost the city’s business environment and stimulate investment

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Added on 10 February 2015 in Press releases

Montréal, February 10, 2015 ‒  The Board of Trade of Metropolitan Montreal welcomes the announcement made today by Quebec’s Minister of Finance, Carlos Leitão, regarding the introduction of an improved tax holiday for companies that make major investments in Quebec. This measure echoes the Board of Trade’s calls to reduce the tax burden for businesses and stimulate private investment.

 

“Dropping the investment threshold for this tax holiday to $100 million comes at the perfect time,” said Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal. “The city’s businesses are enjoying a favourable economic situation with the recovery of the American economy combined with a weaker loonie. We are confident that this measure will help attract private investment and stimulate new projects in Quebec and Montréal.”

“We are delighted to see that alongside efforts to balance the budget, the government is also concerned about supporting the business environment in Quebec and Montréal,” Michel Leblanc said. “We underlined this when Premier Philippe Couillard came to address the Board of Trade: we must leverage private investment to stimulate the Quebec economy and speed up job creation.”

“We encourage the government to continue on this path and to announce a reduction in the corporate tax burden once the budget is balanced,” Mr. Leblanc said. “As noted during consultations with the Quebec taxation review board, the Board of Trade recommends reviewing the tax mix so that it fosters productivity, work and investment. This is essential for ensuring healthy public finances in the long run.”

About the Board of Trade of Metropolitan Montreal
The Board of Trade of Metropolitan Montreal has over 7,000 members. Its mission is to be the voice of Montréal’s business community and to promote the city’s prosperity. It is involved in key areas of economic development, advocating a philosophy of action based on engagement, credibility, proactivity, collaboration and innovation. The Board of Trade also offers a range of specialized services to individuals and to business of all sizes to support them in their growth at home and abroad.

 

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Source:
Michelle LLambias Meunier
Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4042

mllambias@ccmm.qc.ca
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