Enriched Investment Tax Credit
25% provincial corporate tax credit on qualified manufacturing and processing equipment for PEI export-focused companies.
About this program
The Enriched Investment Tax Credit complements the existing PEI Corporate Investment Tax Credit of 10%. The credit provides a 25% provincial corporate tax credit on costs associated with qualified manufacturing and processing equipment, rebated against future PEI corporate income taxes paid by the company. Applies to businesses operating in a targeted strategic sector and manufacturing, processing, or developing goods or services primarily for export. The combined project funding from all non-repayable government sources cannot exceed certain thresholds.
Eligibility
Businesses located in PEI, registered to do business and actively operating in PEI, that manufacture/process/develop goods or services primarily for export in a targeted strategic sector. Must apply before making the investment.
Requirements
- Located in PEI and registered to do business there
- Manufactures, processes, or develops goods primarily for export
- Operates in targeted strategic sector