About Corporation Income Tax

The B.C. Income Tax Act levies provincial income tax on corporations that maintain a permanent establishment in British Columbia at any time during a tax year.

Corporations complete a T2 Corporation Income Tax Return and either:

• a Schedule 427, British Columbia Corporation Tax Calculation or
• a Schedule 5, Tax Calculation Supplementary – Corporations

The Province of British Columbia does not issue a separate corporation income tax business number or require a separate provincial corporation income tax return to be filed.

Corporations have to file every tax year even if there is no tax payable.

The Canada Revenue Agency provides assistance in completing both the federal and provincial portions of corporation income tax returns. The CRA can be contacted at 1-800-959-5525.

For information on provincial income tax for individuals, please go to Individuals > Personal Income Tax.