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July 18, 2013

IT Companies Will Be Able to Receive the Tax Credit for the Development of E-Business until 2025

July 18, 2013 - That’s what the Québec government announced on July 11. The tax credit for the development of e-business, which is administered by Investissement Québec, was to end on December 31, 2015, but the government has supplemented it and extended its applicability for a further 10 years, until 2025. The refundable tax credit for 30% of eligible employees’ salaries has been maintained, but the $20,000 ceiling for each employee will increase to $22,500 starting in 2016.

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To date, more than 400 Québec businesses and subsidiaries of foreign companies have benefited from this advantageous tax measure. It was introduced in March 2008 to stimulate investment and support the growth of companies in the information technology (IT) sector in the face of strong international competition. Today, IT is a solid pillar of the Québec economy.

 

This tax credit targets specialized IT companies that perform services for third parties. The tax assistance primarily covers high-value-added activities, such as the development of software to be integrated into information systems, the design of e-commerce solutions, and the development of security and identification services.

 

Would you like to receive this tax credit? It’s possible! Click here to learn more and find out if your company is eligible.

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