March 14, 2000
For immediate release
Expansion of Tax Exemptions to Manufacturers and Producers Strengthens Food and Beverage Processors' Positions in Atlantic Canada
"Our officials have worked closely with the industry association to see how government can make life easier for them," says Pat Mella, Provincial Treasurer. "These changes will add to the listing of exempt items, thereby potentially reducing the organization's costs."
"These changes will help level the playing field and improve the competitiveness of Island food and beverage processors," says Randy Johnston, President of the Prince Edward Island Food & Beverage Processors Association. "Working in partnership, our Provincial Government and Association are delivering benefits to Island processors by achieving an equitable, improved system for Provincial Sales Tax application to our industry. In acknowledging how our industry has changed since the existing tax exemptions were implemented, it shows how responsive and in-touch the government is in developing proactive strategies to foster improved competitiveness, new growth and development for the food and beverage processing sector."
The Food and Beverage Processing sector has recently been acknowledged by the Atlantic Provinces Economic Council as "an important engine for future economic growth in the Province of Prince Edward Island."
A new Manufacturers' and Producers' Guide for Provincial Revenue (Sales) Tax application will be prepared by the province to communicate the broadened tax exemptions.