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Business Taxation in Newfoundland

Laws and Regulations

Newfoundland and Labrador has one of the most favourable business tax climates in Canada. Our Corporate Income Tax rates are amongst the lowest in the country. The Harmonized Sales Tax has resulted in the removal of tax on business inputs. Unlike many provinces, Newfoundland and Labrador does not impose a general capital tax. While Newfoundland and Labrador imposes a 2% payroll tax, the exemption threshold relieves virtually all small businesses from this tax. A number of credits and incentives are designed to encourage economic growth in strategic areas.

Types of Business Taxes
  Corporate Income Tax
  Health and Post Secondary Education Tax (Payroll Tax)
  Financial Corporations Capital Tax
  Insurance Companies Tax
  Mining and Mineral Rights Tax
  Sales Tax on Insurance Premiums
  Utilities and Cable Television Tax
  Gasoline Tax

Blank Returns

  Financial Corporations Capital Tax - Regular  (PDF)
  Financial Corporations Capital Tax - Annual  (PDF)
  Gasoline Wholesaler Tax (PDF)
  Gasoline Retailer Tax (PDF)
  Health and Post Secondary Education Tax - Regular  (PDF)
  IFTA Carrier  (PDF)
  Insurance Companies - Annual  (PDF)
  Insurance Companies  - Installment  (PDF)
  Sales Tax on Insurance Premiums  (PDF)
  Parimutuel Tax  (PDF)
  Sales Tax on Used Vehicles  (PDF)
  Tobacco Tax - Manufacturer   (PDF)
  Tobacco Tax - Wholesaler Accountable   (PDF)
  Tobacco Tax - Wholesaler Non Accountable   (PDF)
  Utilities and Cable Television Companies Tax  (PDF)

Tax Program Registration Forms

  Financial Corporations Capital Tax (PDF)
  Health and Post Secondary Education Tax (Payroll Tax) (PDF)
  Insurance Companies Tax (PDF)
  Mining and Mineral Rights Tax (PDF)
  Gasoline Retailer Tax (PDF)
  Gasoline Wholesaler Tax  (PDF)
  Parimutuel Tax (PDF)
  Tobacco Tax (PDF)
  Tobacco Tax Retailer (PDF)
  Utilities and Cable Television Companies Tax (PDF)

Links of Interest
  Tax e-Filing
  Tax Credits, Incentives and Benefits, Dept. of Finance
  Economic Diversification and Growth Enterprises Program, Dept. of Industry, Trade and Rural Development

Information respecting various taxes may be obtained from the Taxation and Fiscal Policy Branch.

Taxation and Fiscal Policy Branch
Department of Finance
P.O. Box 8700
St. John.s, Newfoundland
A1B 4J6
Telephone: (709) 729-6297 or 1-877-729-6376
Collection Inquiries: 1-877-729-1695
Facsimile: (709) 729-2856

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Business Taxation in Newfoundland