BC Government Release below:
A new Major Events Municipal and Regional District Tax (MRDT), of up to 2.5% on short- term accommodation sales can help communities cover the cost of hosting major international events, that help bolster provincial tourism and the economy. Communities hosting major international events need additional revenues to be able to plan, stage and host those events and reap the long-term economic benefits.
The Major Events MRDT is a time-limited, dedicated funding tool that communities will be able to apply for through Destination BC. Communities will need support and prior approval from the Minister responsible for tourism and the Minister of Finance to help ensure the tax is dedicated and applied as intended, that it is time-limited, and that it is subject to public reporting and transparency. The Ministry of Finance will be working closely with the ministry responsible for tourism and Destination BC to develop policies and an application process so that communities can apply to have a Major Events MRDT collected within their jurisdictions where appropriate. Limited information is available at this time. If you have questions, please reach out to MRDT@Destinationbc.ca.
Read the full release from the BC Government here: https://news.gov.bc.ca/releases/2022FIN0068-001626
Ministry of Finance
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