Friday, June 4, 2010

Terasen Doesn't Have To Pay $4.5 Million Tax

   Terasen Gas will not have to pay the almost $4.5 million in taxes the B.C. government said it owed on the purchase of pipeline equipment, now that Victoria has lost its appeal of an earlier B.C. Supreme Court ruling siding with the utility company.
   The appeal ruling, handed down Friday by the B.C. Court of Appeal, found that Terasen's purchase of $64 million worth of pipe and compressors for its 300-km Southern Crossing Pipeline in 2000 was not in contravention of the province's tax laws.
   In order to avoid paying $4,482,065 in provincial sales tax on the purchase, Terasen bought the equipment and sold it to a trust ...
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