An all-party British Columbia legislature committee says the province鈥檚 tax system is in need of a comprehensive review.
The seven-member Select Standing Committee on Finance and Government Services says in a report used to help guide government preparations ahead of its next budget that the tax system needs to be modernized.
The committee鈥檚 report is unanimous and recommends reviews of the province鈥檚 carbon tax, employer health tax, luxury tax, speculation and vacancy tax and provincial sales tax.
In its report the committee noted it is important taxes are 鈥渆ffective in accomplishing stated outcomes, addressing unintended or unanticipated impacts, and ensuring fairness and consistency.
It also stressed that taxes should be reviewed through a lens of maintaining competitiveness, with a particular examination of cumulative impacts, as well as modernization in recognition of changing economies.
The committee didn鈥檛 go so far as to recommend a form of value-added or harmonized tax system to replace and update the PST, but in its report the committee noted it heard from some business circles that the application of the PST to business inputs can lead to competitiveness and productivity issues.
The committee made more than 100 recommendations to government, including that it provide supports for youth formerly in care and that it helps workers and communities as the forest industry experiences an economic downturn.
The committee, made up of four New Democrats and three Opposition Liberals, held meetings in 15 sa国际传媒 communities in June and received almost 1,000 written submissions and online survey responses.
The Finance Ministry says in a statement it is reviewing the report and will consider its proposals and recommendations as it prepares next year鈥檚 budget.
