International Business Activity (IBA) Program

The International Business Activity (IBA) program provides a refund of British Columbia income tax paid in respect of income earned in conducting an international business. An eligible corporation must register itself, and any specialists it employs, under the International Business Activity Act to qualify for the program.

A refund will be paid to a corporation or IB specialist only after all British Columbia and federal income taxes for the taxation year are paid.

For more information on the types of international businesses, see About International Businesses.

For more information on the 2010 enhancements to the specialists program, see About IB Specialists.

2011 Budget

The February 15, 2011 Budget proposes to allow Schedule III banks, and any specialists they employ, to qualify for the IBA program with respect to their international financial business, effective April 1, 2011. Schedule III banks are branches of foreign banks operating in Canada.