PwC Federal Budget Instant Reaction: Tariffs eliminated on a range of machinery and equipment



    OTTAWA, Jan. 27 /CNW/ - PricewaterhouseCoopers (PwC) Canada tax
specialists commented today:
    Budget 2009 proposes to permanently eliminate tariffs on a range of
machinery and equipment. This measure will lower costs for Canadian producers
in a variety of sectors, such as forestry, energy and food processing, which
must purchase specialized equipment from overseas to modernize their
operations and enhance competitiveness. A much needed relief for these
industries.
    This measure will affect close to $2 billion in annual imports of
machinery and equipment and provide over $440 million in savings for Canadian
industry over the next five years.
    Budget 2009 will also take steps to facilitate the movement of goods by
improving the Customs Tariff rules respecting the treatment of temporarily
imported cargo containers, and undertake consultations with respect to further
liberalizing the use of these containers in Canada.
    A PwC Budget Flash with additional Budget highlights will be issued later
today followed by a detailed Budget Memo. For more information and detailed
commentary on the Budget please contact, Carolyn Forest,
carolyn.forest@ca.pwc.com, 416-814-5730 or visit www.pwc.com/ca/budget.

    PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance,
tax and advisory services to build public trust and enhance value for its
clients and their stakeholders. More than 155,000 people in 153 countries
across our network share their thinking, experience and solutions to develop
fresh perspectives and practical advice. In Canada, PricewaterhouseCoopers LLP
(www.pwc.com/ca) and its related entities have more than 5,200 partners and
staff in offices across the country.
    "PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP, an Ontario
limited liability partnership, or, as the context requires, the
PricewaterhouseCoopers global network or other member firms of the network,
each of which is a separate and independent legal entity.





For further information:

For further information: Carolyn Forest, PricewaterhouseCoopers LLP,
(416) 814-5730, carolyn.forest@ca.pwc.com

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FEDERAL BUDGET 2009

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