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International Business Activity Act, Sections 34, 42, And 45

In This Volume

International Business Activity Act, S.B.C. 2004, c. 49

The Act provides for the registration of corporations and individuals engaged in international business activities and provides for tax payments and refunds.

  • Nature of Interest: A recoverable amount that is not paid is a lien and charge in favour of the government on the entire assets of the international business or its trustee (the taxpayer).
  • Effect of Interest: Lien and charge, whether registered or not, have priority over all claims of every person except claims secured by liens, charges, or encumbrances registered before the date notice of determination or assessment is served on the taxpayer.
  • Procedure for Enforcement: The commissioner may file the certificate in the Supreme Court stating that the recoverable amount is due, the amount remaining unpaid, and the name of the taxpayer.
  • Effect of Filing: Certificate, once filed, is of the same effect as if it were a judgment of the Supreme Court for the recovery of debt.
  • Electronic Submissions: On the Form 17 Charge, Notation or Filing; select Nature of Interest, Crown Lien, and attach the original certificate in support.