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MAANNUUFFAACCTTUURRIINNG
G
A proposition to
PORTALANZA ING.
August 2004
www.investquebec.com
QUBEC, AN OPPORTUNITY FOR PORTALANZA ING.
We firmly believe that Qubec is the best solution for Portalanza Ing. because of its strategic loca-
tion in North America, and its profitable and high-quality business environment.
Qubec can help Portalanza Ing. to boost its profitability by favoring the growth of its sales in foreign
markets and by reducing costs and investment requirements. Therefore, we are respectfully submit-
ting this document to draw your attention to some of the numerous competitive advantages of doing
business in Qubec.
When it comes to fuelling your growth, you want to make wise decisions. And the first one is
choosing Invest Quebec to help you achieve your business objectives. Combining the advantages
of a financial institution and an economic development agency, we have what it takes to meet the
demands of todays growth-minded companies.
August 2004
TABLE OF CONTENTS
CORPORATE TAXATION...................................................................................................................6
TAX MEASURES FOR THE RESOURCE REGIONS ..................................................................................6
COMMODITY TAXES ...........................................................................................................................7
August 2004
Comentario [I1]: 03-05-09-
rvision CH
Comentario [IQ2]: 02-10-31 :
Changement page 1, dernier
A PRO-BUSINESS ENVIRONMENT paragraphe (chiffres du GDP).
Comentario [IQ3]: 02-03-25 :
Changement Tableau 1998 p.
10)
Comentario [IQ4]: 02-01-28 :
A STRATEGIC LOCATION - ACCESS TO NORTH AMERICAN MARKETS Changements aux pages 1, 2 et
7demands par Domenico
Qubec is strategically located in the North East of the continent. Within Baldino.
overnight trucking distance of over 100 million of affluent consumers. The Comentario [IQ5]: 02-01-08 :
Changement la page 1 pour le
Northeast region includes New York, Boston, Philadelphia, Washington D.C. PIB.
and numerous other large urban markets.
Comentario [LL6]: 01-10-
11 :Mise jour des pages 1, 4 et 6
selon Domenico Baldino.
Comentario [LL7]: 01-08-7-
18 : Mise jour complte pour
convertir le style en Nouvelle
Vague.
AN OPEN ECONOMY
A domestic With the North American Free Trade Agreement (NAFTA), Qubec has
market of more access to a vast domestic market of more than 410 million consumers
than 410 million representing a GDP (2003) of over US$11.4 trillion.
consumers Close to 85% of Qubecs international exports are shipped to the United
States.
Qubec 88.9
Ontario 92.1
Canada 91.0
Australia 91.5
Italy 98.7
Luxembourg 99.1
France 99.1
Iceland 103.3
Netherlands 104.0
Germany 113.9
Japan 123.8
Note: The model takes into consideration labor, electricity, transportation and telecommunication costs, interest, depreciation
and taxes.
Source: KPMG 2004, The CEOs Guide to International Business Costs, G7 Edition.
LABOR COSTS
According to KPMG (2004), labor costs in Qubec are, on average, 21% lower
than in the United States. This is due to lower salaries offered in Qubec.
Employers obligations
A fair working PAYROLL TAXES AND OTHER EMPLOYER OBLIGATIONS (CAN$) - 2004
environment
Statutory holidays 8 days
Annual vacation 2 weeks after 1 year
3 weeks after 5 years
Vacation pay 4% of annual earnings (represents 2 weeks after 1 year)
6% after 5 years (represents 3 weeks after 5 years)
Employment insurance 2.94% of salary (maximum insurable $39,000)
ENERGY COST
Electricity
Hydro-Qubecs rates are not subject to the variability of oil and gas prices. Eliminado: <sp>
Hence, Qubec electricity rates are among the most competitive and stable in
North America. Currently, Hydro-Qubec has more than 10.4 TWh of power
available for industrial projects. Qubec electricity is a great value.
Ontario 82.9
Canada 77.7
Iceland 81.3
France 89.1
Australia 89.3
Luxembourg 93.3
Germany 127.0
Italy 132.0
Japan 173.5
Netherlands 194.4
Source: KPMG 2004, The CEO's Guide to International Business Costs, G7 Edition.
Source: Hydro-Qubec Comparison of Electricity Prices in Major North American Cities. May 2003.
Exchange rate: CAN$1.00 = US$0.73.
Natural Gas
The quality and reliability of Qubecs natural gas transportation and
A competitive
distribution system have made this energy source readily available and
and reliable
attractive. Hence, natural gas is available in most regions of Qubec, at
source of
competitive rates, which can be negotiated with Gaz Mtropolitain, the largest
energy
supplier of natural gas in Qubec.
Some brokers also offer long-term (20 years) contracts at lower rates.
US Dollar per US Dollar per CAN Dollar per CAN Dollar per
Thousand Cubic Feet Cubic Meter Thousand Cubic Feet Cubic Meter
Qubec 3,17* 0,11 4,44 0,16
Massachusetts 7,01* 0,25 11,01 0,39
* 2002 averages.
Exchange rate : 2003: US$1.00 = CAN$1.4015; 2002: US$1.00 = CAN$1.5704
Sources: Institut de la Statistique du Qubec, Lcostat, March 2004, and US Energy Information
Administration, Natural Gas Monthly February 2004.
Source: Colliers International. North American Industrial Real Estate Highlights and Global Office
Market Survey. April 2004.
Competitive The Qubec corporate tax system is one of the most favorable in North
corporate tax America, low income tax rates work to the advantage of manufacturing
rates businesses.
Qubecs system is also very competitive concerning job creation and capital
investment.
1
In Canada, the Federal tax rate is 13.12% for Canadian controlled private
corporations with taxable income below CAN$200,000. Reduced rates may also
apply in certain provinces for small businesses. In the United States, the general
rate of 35% varies according to the revenue of the corporation.
2
The rate of 8.9% is effective as of March 15, 2003. The former rate of 9.04%
included the contribution to the Youth Fund representing 1.6% of the income tax
payable.
3
The rate includes 14% surtax.
4
Corporations are liable for tax on the greater of four bases. The tax on income is
levied at a rate of 7.5%.
5
New York City. In addition to the city tax of 8.85%, a surtax of 17% of the state tax
(9%) is applicable for business activity in the Metropolitan Commuter
Transportation District. Please note that all corporations will not be subject to all
three taxes.
COMMODITY TAXES
To simplify the administration of the consumption taxes, Qubec was the first
province to coordinate its sales tax with the federal GST. Qubec companies
need only deal with only one level of government when it comes to
consumption taxes.
The studies must pertain to a project to be carried out in Qubec and be led by
Canadian consultants (does not exclude subcontracting). This program is
managed by the ministre du Dveloppement conomique et rgional et
Recherche (MDEER).
PASI
Your one-stop Investissement Qubec will provide your company with all the advantages of
reference locating in Qubec and create a made-to-measure package that meets all
center to your specific needs: financial assistance, workforce training, energy and utility-
explore related issues and more. It will even help you find a local partner, if need be.
Qubecs
many features
Jacques Glinas
Project Manager
Investissement Qubec
393 Saint-Jacques Street, Suite 500
Montral (Qubec) H2Y 1N9
Jose Voizard
Business Development Support
Investissement Qubec
Mano de obra que entrena al 1% de los costos menos elegibles totales 2 del
entrenamiento de la nmina de pago
El COSTE ENERGTICO
Source: Hydro-Qubec Comparison of Electricity Prices in Major North American Cities. May 2003.
Exchange rate: CAN$1.00 = US$0.73.
Natural Gas
El gas natural la calidad y la confiabilidad del sistema del transporte y de la distribucin del gas
natural de Qubec?s ha hecho esta fuente de energa fcilmente disponible y atractiva. Por lo
tanto, el
La red telefnica quebequense, de la ms alta tecnologa, es accesible a Tasa de cambio ventajosa con respecto a la divisa
todos. La fibra ptica est presente en todos los enlaces interurbanos estadounidense para todas las empresas que
en las zonas ms pobladas e incluso en algunas zonas con menor exportan hacia Estados Unidos. Esta tendencia
densidad de poblacin. La telefona celular es tambin abordable y se perdura desde hace veinte aos.
utiliza cada vez ms.
Energa hidroelctrica y gas natural a precios
A continuacin, algunas de las empresas latinoamericanas que han competitivos.
elegido instalarse en Quebec:
Alta densidad industrial, especialmente en los
Empresas Filiales quebequenses sectores de la industria aeroespacial, las ciencias
Cosa Exteriores Towertax biolgicas y las tecnologas de la informacin. Esa
Dermatus Dermatus densidad atrae a numerosos fabricantes,
Portalanza Ingenieres Portalanza Metal proveedores y contratistas, y favorece la
Sural Intral transferencia de saberes y la creacin de redes.
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