Vancouver has one of the lowest business tax costs out of 35 major cities around the world studied by KPMG in a new report.
Vancouver ranked fourth, after cities located in Puerto Rico and Mexico. Montreal ranked sixth overall and Toronto was seventh.
The study assessed the general tax competitiveness of 102 cities in 10 countries, focusing on 35 major cities with populations greater than two million. It compared the corporate tax burden in each of the cities, including income tax, capital tax, sales tax, property tax, local business taxes and statutory labour costs.
Overall, Canada ranked third out of the 10 countries that included Mexico, the Netherlands, Australia, the U.S., the U.K., Japan, Germany, Italy and France.
Changes in tax policies nationally and provincially have helped Canadian cities become more competitive internationally, according to the survey. Canada ranked third in having lower tax burdens on manufacturing, business services and research and development.