This Act provides the authority for the payment of capital taxes by corporations. The Act has a section on definitions and interpretation and sections that pertain to liability for tax, exemption from tax and apportionment of tax. The Act references aggregate paid up capital, total paid up capital, net paid up capital and adjusted paid up capital. The Act also contains sections that speak to partnerships, installment payments and interest, investigation, enforcement and penalty, power to request records, confidentiality, continuing liability for tax, notice of assessment and recovery action.

Act:  Corporation Capital Tax Act, RSBC 1996, Chapter 73

Regulation:

• Corporation Capital Tax Regulation (B.C. Reg. 199/2002)

Ministry:  Small Business and Revenue

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