British Columbia Woos Shell With Tax Cuts for LNG Project
- Canadian province eliminates extra income tax on LNG plants
- Sets Nov. 30 deadline for Shell commitment to sweetened deal
Photographer: Matthew Busch/Bloomberg
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British Columbia Premier John Horgan lightened the tax burden on proposed liquefied natural gas projects as his government seeks to convince Royal Dutch Shell Plc to move ahead with a C$40 billion ($31 billion) development in the western Canadian province.
The province will eliminate an extra tax ranging from 3.5 to 5 percent of net income that the previous government imposed on proposed LNG projects, Horgan told reporters in Victoria on Thursday. New projects will also pay lower electricity rates in line with other industrial users, he said.