Canada: Tax credit for book publishers, extended through March 2026 (British Columbia)

Canada: Tax credit for book publishers

A British Columbia tax credit available for book publishers has been extended through the end of March 2026. The extension of the tax credit is intended as relief in response to the coronavirus (COVID-19) pandemic.

1000

Related content

Eligible corporations that provide “book publishing services “ in British Columbia now have an additional five years to claim the tax credit because this refundable tax credit program will expire at the end of March 2026 (rather than at the end of March 2021).
 

Background

Generally, eligible B.C. publishers can claim the book publishing tax credit when they:

  • Are a Canadian-controlled corporation conducting business primarily through a permanent establishment in British Columbia, and with book publishing as their principal business
  • Receive a base amount of “support for publishers” contributions under the federal Canada Book Fund (CBF) before 1 April 2026.

Eligible publishers may receive a credit of up to 90% of the base amount of “support for publishers” contributions received in the tax year.


Read a March 2021 report prepared by the KPMG member firm in Canada

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal