IFRS

International financial reporting standards

IRC

Internal Revenue Code (US)

IRS

Internal Revenue Service (US)

ITA

Income Tax Act, RSC 1985, c. 1 (5th Supp.), as amended

ITC

Investment tax credit

LCT

Large corporations tax

METC

Mining exploration tax credit (British Columbia)

MFN

Most favoured nation

NPI

Net profits interest

NSR

Net smelter return

OVMSH

Output value at the mine shaft head

PFIC

Passive foreign investment company (US)

PLOI

Pertinent loan or indebtedness

PST

Provincial sales tax

QEF

Qualifying electing fund (US PFIC regime)

QET

Qualifying environmental trust

QRE

Qualified resource expense

QST

Québec sales tax

R&D

Research and development

SC

Successor corporation

SIFT

Specified investment flow-through

SR&ED

Scientific research and experimental development

SRC

Saskatchewan resource credit

TIEA

Tax information exchange agreement

UCC

Undepreciated capital cost

USRPI

US real property interest (US tax rules)

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affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

 Glossary 

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