How is the amount of the refund calculated?
Registered corporations can claim a refund of up to 100% of B.C. corporate income tax paid on income earned from eligible international financial activities. For income earned from the commercialization of intellectual property in the form of life science patents, registered corporations can claim a refund of up to 75% of B.C. corporate income tax paid, up to a maximum refund of $8 million per year. IFA specialists can claim a refund of up to 75% of B.C. income tax paid on net employment income earned from eligible international financial activities. Please see How to File, Bulletin IFA 001, International Financial Activity Overview and Bulletin IFA 002, Life Sciences Patents for more information on calculating the IFA refund.
