Ministère des Finances
Ministère des Finances
Ministère des Finances
The former tax holiday for large investment projects (former TH‑LIP) is abolished as of March 21, 2023.
No new application for the issuance of an initial certificate relating to a large investment project will be accepted for the application of the former TH‑LIP.
The elimination of the former TH-LIP does not affect the eligibility of corporations that already have an initial certificate for an investment project, nor does it affect the eligibility of partnerships and members of a partnership that already have such a certificate or that have already applied for the issuance of an initial certificate.
Such corporations or partnerships may continue to benefit from this tax holiday until the end of the tax-free period for that project, according to the rules that currently apply.
If an initial qualification certificate under the former tax holiday was issued to a corporation or partnership in respect of a project, it will not be able to benefit from the new tax holiday rates.
The new rates apply only to projects for which an initial qualification certificate has been issued under the new tax holiday for large investment projects.
A corporation or partnership that holds an initial certificate for a large investment project or that has already applied for the issuance of such a certificate as of March 21, 2023, may benefit from an alternative calculation method for the tax holiday.
The corporation or partnership will be required to file the election with the Minister of Finance on or before the later of the following dates:
A corporation or partnership that chooses the alternative method can benefit from tax assistance for a period corresponding to the number of days remaining in its tax-free period, determined according to the terms of the former tax holiday, that is, up to a maximum of 15 years.
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