Majority of businesses calling for additional tax incentives to help with green transition: survey
BNN Bloomberg
Most medium-sized businesses in Canada are calling for additional incentives to help with the green transition in the upcoming federal budget, according to a survey by KPMG Canada on Wednesday.
Out of the 505 medium-sized enterprises it surveyed, 80 per cent are calling for additional tax incentives and investment tax credits to help make it more affordable to adopt clean technology, and compete with green tax legislation in the U.S. and European Union.
“Canada’s business leaders are ready to make the green transition but need government to create a more supportive environment, including further tax relief to help them transition away from carbon-intensive products and invest in clean energy and net-zero technologies,’’ Lucy Iacovelli, Canadian managing partner for tax at KPMG Canada, said in the press release.
“More than eight in 10 (84 per cent) indicated that they are using existing government incentives to reduce their environmental footprint, but to stay competitive, they believe it is vital that Canada keeps pace with the new green investments and tax measures being adopted in the U.S.”
