Tax credit for the development of e-business in QC! (Views: 2525)
Wed, 15 Oct 2014
Information Technology is a cornerstone for the growth of Quebec’s economy. The increase of IT based companies in Quebec has led to significant economic growth and employment generation over the last couple decades which have in turn contributed to the province’s economy. Through the Tax Credit for the Development of E-Business, the government of Quebec helps IT companies grow and establish themselves as market leaders.
This E-Business Tax Credit helps IT companies in Quebec grow their businesses by maintaining and creating IT jobs. The credit is a refundable tax credit, meaning that it can be granted to an eligible corporation even if they do not have any income tax payable. It is a refund on the expenses incurred.
Who is eligible? Any company in Quebec developing a product or providing services in the IT sector:
- Must be B2B (i.e. must sell to government or businesses, not consumers)
- Must have a minimum of 6 employees
- Must have at least 75% of its revenues generated from the sale of products and services which will
improve the internal business processes of the client (i.e. improve their productivity).
Some examples of eligible e-business products are enterprise resource planning (ERP) systems, customer resource management (CRM) systems, and other enterprise-wide management systems. For more details on the eligibility criteria click here.
Eligible corporations can get up to $20,000 per eligible employees under this program. The application must be submitted to Investissement Quebec within the 15 months of the company’s year-end and within 18 months, to Revenu Quebec. For more information, please call 1-855-386-3422.
This E-Business Tax Credit helps IT companies in Quebec grow their businesses by maintaining and creating IT jobs. The credit is a refundable tax credit, meaning that it can be granted to an eligible corporation even if they do not have any income tax payable. It is a refund on the expenses incurred.
Who is eligible? Any company in Quebec developing a product or providing services in the IT sector:
- Must be B2B (i.e. must sell to government or businesses, not consumers)
- Must have a minimum of 6 employees
- Must have at least 75% of its revenues generated from the sale of products and services which will
improve the internal business processes of the client (i.e. improve their productivity).
Some examples of eligible e-business products are enterprise resource planning (ERP) systems, customer resource management (CRM) systems, and other enterprise-wide management systems. For more details on the eligibility criteria click here.
Eligible corporations can get up to $20,000 per eligible employees under this program. The application must be submitted to Investissement Quebec within the 15 months of the company’s year-end and within 18 months, to Revenu Quebec. For more information, please call 1-855-386-3422.
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