Tax Policy Branch provides tax policy analysis, advice and recommendations to the Minister of Finance, who is responsible for provincial taxation policy.
The Tax Policy Branch is responsible for all provincial tax policy issues in BC, and the branch performs a strategic role in preserving the integrity of the overall taxation system, which includes taxes on income, consumption, and wealth. It is responsible for considering and balancing a number of competing interests, objectives, and tax policy principles, including, but not limited to:
- Revenue considerations;
- Fairness and equity considerations;
- Competitiveness and efficiency considerations;
- Simplicity of the taxation system and administrative costs;
- Issues of precedent that may lead to pressures for future changes;
- Legal jurisdiction to administer taxes;
- Interests of other federal and provincial governments; and
- Public acceptability
Responsible for maintaining the provincial tax base (which accounts for almost half of all government revenues), the Tax Policy Branch plays a key role in the budget process. The branch determines issues for budget consideration, provides advice and recommendations to the Minister, assists with preparing budget documents, and implements budget decisions through legislation and regulation.
In addition, the branch supports the coordination of tax policy with other levels of government and other ministries and negotiates the tax aspects of treaties and taxation related agreements with First Nations.