Back-office activities carried out for a third party eligible for the refundable tax credit for international financial centres (IFC)

Certain back-office activities carried out for a third party may be eligible for a refundable tax credit under certain conditions.

To be eligible, back-office activities must be carried out on behalf of a third party and relate to international financial transactions carried out by the latter.

Eligible back-office activities include, among other things:

• administration of damage insurance contracts;
• claims management;
• fund accounting;
• netting;
• reconciliation;
• registration of transactions;
• securities settlement;
• transaction accounting;
• transfer of funds and securities.