FREDERICTON (GNB) – The provincial government is making changes to the Financial Corporation Capital Tax Act.
Effective April 1, the tax on banks will increase to five per cent from four per cent.
“As part of the choices we made to support important services like education and health care, and to take steps to spur job creation, we have asked everyone in New Brunswick to pay more,” said Finance Minister Roger Melanson. “Banks and big businesses are part of that effort.”
The Financial Corporation Capital Tax is expected to generate $27 million in 2016-17.
03-02-16