TAX INCENTIVES: Saskatchewan proposes savings for value-added mineral processing and potash

REGINA — Early in December the Government of Saskatchewan announced its plan to introduce a five-year corporate income tax incentive aimed at bringing more mineral processing to the province.

The incentive is expected to encourage new and existing firms to establish plants that will process minerals imported to the province to the prime metal stage. In order to quality an enterprise will have to operate exclusively using imported feeds, maintain a capital investment of at least $125 million in the province, and employ at least 75 full-time workers.

The legislation is to be tabled in the spring 2010 of the Saskatchewan Legislature.

Also in early December, the province offered tax incentives beginning Jan. 1, 2010, to potash producers who expand their corporate office staffs. New producers who locate in Saskatchewan will be eligible for the full incentive, and existing producers will be eligible for a reduced amount per new hire. The province expects to replace foregone tax revenue through job creation.

These and other news releases issued by the Government of Saskatchewan are posted at www.Gov.SK.ca/news/.