Tax Credit
Tax Credit for the Construction of a Vessel
A company which, in the taxation year, has an establishment in Québec and carries on a shipbuilding business may, under certain conditions, claim a refundable tax credit for the construction of a vessel for which a Certificate of eligibility has been issued by the Minister of Finance and Economy or the Minister of Economy, Innovation and Exports.
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- Québec. Revenu Québec
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- Last updated 3 years ago
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Description
A company which, in the taxation year, has an establishment in Québec and carries on a shipbuilding business may, under certain conditions, claim a refundable tax credit for the construction of a vessel for which a Certificate of eligibility has been issued by the Minister of Finance and Economy or the Minister of Economy, Innovation and Exports.- The tax credit rates applicable to construction spending are: 37.5% for the prototype vessel; 33.75% for the first additional ship; 30% for the second additional ship; 26.25% for the third additional ship.