About International Businesses

Budget 2010 expanded the types of international businesses and the types of specialists that are eligible for this program. As a result, the International Financial Activity Act has been renamed the International Business Activity Act* (the Act) and the program is now known as the International Business Activity (IBA) program.

The IBA program provides eligible corporations and specialists who work for those corporations a refund of the British Columbia income tax paid on income related to the corporation's international business carried on in British Columbia.

As a result of the Budget 2010 expansion, a new umbrella term, international business, has been adopted. Related terms have also been amended.

An international business is defined in section 1 of the Act as one of the following types of businesses:

• international financial business
• international film distribution business
• international patent business

For more information on the international businesses listed above, please click on the business to link to a new page.

NOTE: The definition of international business will be expanded to include the following international businesses which will be brought into effect by regulation:

• international digital media distribution business,
• international carbon trading and certification business, and
• international clean technology business.

Details of effective dates, qualifying businesses and technologies, qualifying international transactions and any required certification process will be provided when available.

Please subscribe to the “What’s New” page if you wish to be automatically notified when changes are made.

A refund will be paid to a registered corporation or IB specialist only after all British Columbia and federal income taxes for the taxation year are paid.

An eligible corporation must register itself, and any specialists it employs, under the Act to qualify for the IBA program. Please see How to Register for the IBA program for more information on the registration process.

*Note: The International Financial Activity Act was renamed the International Business Activity Act, effective June 3, 2010.