- Updated to: October 16,
2015 -
(Includes
Amendments Approved on September 15, 2015)
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Regulations)
CHAPTER
R-13.2
REVENUE
ADMINISTRATION ACT
REGULATIONS
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Pursuant to section 28 of the
Revenue Administration Act
R.S.P.E.I.
1990, Cap. R-13.2, Council made the following regulations:
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PART I |
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REVENUE TAX
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Definitions
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1.(1) In this Part
"Act" means the Revenue Tax
Act R.S.P.E.I. 1988, Cap. R-14 and other terms such as "goods",
"purchaser", "tax" and "vendor" have the same meaning as set out in that Act.
(EC390/91)
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Record,
defined
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(2) In this
Part, "record" means any information set down by handwriting, books of
account, document, drawing, typewriting, printing, photocopying, magnetic
impulse, mechanical or electronic recording of any other means.
(EC197/11)
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Monthly return
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2. (1) On or before the twentieth day of each month
every vendor shall make a return to the Commissioner in such form as may be approved by
the Minister of all sales of goods made by him during the calendar month immediately
preceding and shall remit to the Minister the tax collected and deposits received by him
during such period.
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Particular returns
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(2) Notwithstanding subsection (1), a vendor shall
make a return to the Commissioner of all sales of goods made by him at any time required
by the Commissioner covering such period as the Commissioner may determine, and shall
therewith remit to the Minister the tax collected and deposits received by him during such
period.
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Return for each place of business
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(3) Unless a consolidated return has been approved
by the Commissioner, every vendor shall make a separate return in respect of each place of
business operated by him.
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Return where no sales
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(4) Whenever a vendor is required to make a return
of the sales of goods made by him and the vendor has made no sales of goods during the
period in respect of which the return is required to be made, he shall make a return
setting forth that fact.
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Assignee, liquidator, etc. to remit taxes
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(5) For the purpose of
subsection 17(2) of the Act, any person, referred to in subsection 17(1) of
the Act shall remit to the Minister by certified cheque or bank draft within
thirty days after demand all unremitted taxes collected by and deposits
received by the vendor prior to the person taking control or possession of the
vendor's property or carrying on or managing the business of the vendor.
(EC390/91)
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Particulars
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3. (1) Every vendor shall keep and maintain
records sufficient to furnish the Commissioner with the necessary
particulars of
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(a) sales of goods; |
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(b) goods purchased or taken from stock by the vendor for his own
consumption or use; |
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(c) out-of-province sales; |
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(d) non-taxable sales; |
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(e) taxable sales; |
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(f) amount of tax due or collected;
and |
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(g) disposal of tax including commission taken. |
Records
maintained in electronic form
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(1.1) Where a vendor
maintains the records set out in subsection(1) in electronic form, that vendor
must ensure, for as long as those records are required to be preserved, that
the records
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(a) remain complete and
unaltered, apart from any changes or additions made in the normal course of
communication, storage or display, from the time they were first made in
final form; |
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(b) are accessible by the
vendor which is required to retain them; and |
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(c) are capable of being
printed and of being produced in electronically readable format for
inspection, examination or audit. |
Inspection of
electronically maintained records
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(1.2) In order to inspect
records that are maintained electronically at the place of inspection, the
Commissioner, an inspector or any person authorized by the Minister may
require the vendor to produce the records in the form of a printout or to
produce them in an electronically readable format, or to do both.
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Preservation of records
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(2) Every vendor shall preserve
all records until such time as the
Commissioner may authorize their destruction.
(EC390/91; 197/11)
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Allowance or commission
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4. (1) A vendor may be paid for the services rendered by the
vendor, during a fiscal year of the province, in collecting and remitting
the tax, and in receiving and remitting deposits to the Minister, a sum
equivalent to three per cent of the amount of the tax collected or deposits
received by the vendor to a maximum of $300 for each fiscal year of the
province, if the vendor reported tax collected or deposits received for the
immediately preceding fiscal year of the province in an amount less than or
equal to $10,000.
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No
allowance or commission, circumstances |
(1.1) A vendor shall not be paid for the
services rendered by the vendor, during a fiscal year of the province, in
collecting and remitting the tax, and in receiving and remitting deposits to
the Minister, if the vendor reported tax collected or deposits received for
the immediately preceding fiscal year of the province in an amount greater
than $10,000.
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Disallowance
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(2) The Minister may disallow
payments of such allowance to any vendor where he is satisfied that the vendor
has failed to receive a deposit or to collect a tax or to make a return
required of him by or under the Act or regulations.
(EC390/91; 252/12; 570/15)
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Charged items
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5. Where a
vendor has made sales on a charge basis without collecting the tax at the time
of sale he is obliged to report such sales in his monthly return under the
taxable sales heading and report and pay the tax thereon.
(EC390/91)
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Sale by instalments
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6.(1) The
tax shall be collected on the total amount of as sale for which payment may be
received by instalments
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Idem
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(2) For
greater certainty, in the computation of the tax, the total amount referred
to in subsection (1) includes any amount received in cash at the time of the
sale and all payments to be received later, but does not include interest
and finance charges that form part of the contract but appear as separate
items.
(EC390/91; 570/15) |
Registration of each place of business
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7. (1) Where a vendor carries on business at more
than one place, he shall obtain a registration certificate in respect of each individual
place of business.
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Display of certificate
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(2) The registration certificate shall be
displayed in a prominent place on the premises; provided that in cases where a vendor has
no fixed place of business in the province, he shall keep his certificate on his person at
all times while doing business and produce it upon request to a purchaser or a duly
authorized representative of the Commissioner.
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Agents
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(3) Where agents make sales on behalf of a
principal and do not have any fixed place of business, a registration certificate
shall be obtained for each agent and, the agent shall keep the certificate on his person
at all times while doing business and produce it upon request to a purchaser or a duly
authorized representative of the Commissioner.
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Return of certificate
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(4) Where an agent ceases to
carry on business in respect of which a registration certificate has been
issued, the certificate shall thereupon be void and he shall return the same
to the Commissioner within fifteen days of the date of discontinuance.
(EC390/91)
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Cancellation of vendor's certificate
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8. (1) Subject to the approval of the Minister, the
Commissioner may cancel or suspend the registration certificate of any vendor under the
following circumstances:
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(a) where a vendor has been found guilty of an
offence under the Act or under any statute of the province or regulations approved
pursuant thereto; |
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(b) where the Commissioner has reason to believe a vendor has been or is
carrying on business in contravention of a statute of the province or regulations approved
pursuant thereto; |
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(c) where a vendor is in default in remitting tax collected and deposits
received by him under the Act; or |
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(d) where a certificate has been filed with the Registrar of the Supreme
Court under section 13 of the Revenue Administration Act.
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Reinstatement of cancelled certificate
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(2) The Commissioner may reinstate a registration
certificate which has been suspended or cancelled under the following circumstances:
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(a) where the Commissioner is satisfied that the vendor has complied
with the decision of the court in regard to the offence of which he was found guilty; |
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(b) where the vendor has remitted to the province all tax collected and
the deposits received by him which were due and payable; or |
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(c) where the vendor has discharged the certificate filed with the
Prothonotary of the Supreme Court by payment of the amount due therein.
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Vendor may appear
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(3) Before a refusal, suspension, or
a cancellation may be made the vendor shall be afforded an opportunity to
appear before the Commissioner to show cause why the issuance of a permit
should not be refused or why the permit should not be suspended or cancelled
as the case may be.
(EC390/91)
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Rebate of tax paid by vendor
in respect of bad debt
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8.1 (1)
The Minister may, in accordance with this section, rebate tax to a vendor
that the vendor remitted to the Minister in respect of a sale of goods by
the vendor to a purchaser if the Minister is satisfied that
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(a) the vendor has given
credit to the purchaser with respect to the sale of goods, together with
revenue tax payable by the purchaser; |
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(b) the purchaser has
defaulted in the payment to the vendor of all or part of the amount payable
to the vendor in respect of the sale; |
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(c) the vendor has
written off as a bad debt in the vendor's books of account the unpaid amount
payable to the vendor in respect of the sale; and |
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(d) the write-off of the
unpaid amount payable to the vendor as a bad debt is in accordance with
generally accepted accounting principles, as recognized by the Canadian
Institute of Chartered Accountants, applicable at the time of the write-off. |
Circumstances in which rebate may not be payable
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(2) Notwithstanding
subsection (1), no rebate of tax shall be made to a vendor under this
section in respect of an unpaid amount payable to the vendor if
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(a) the vendor does not
claim the rebate within four years from the effective date of the vendor's
write-off of the unpaid amount as a bad debt; |
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(b) the vendor is
entitled to offset the unpaid amount against an amount payable by the vendor
to the purchaser; |
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(c) the vendor has
assigned, without recourse and for consideration, other than for security
purposes, part or all of the unpaid amount; or |
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(d) the payment for the
purchase was made through the use of a credit card that is not issued by the
vendor. |
Calculation
of rebate
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(3) The tax that may be
rebated to a vendor under this section shall be determined in accordance
with the following formula:
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Rebate = A x B/C |
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where,
A is the tax remitted by the vendor with respect to the sale of goods to the
purchaser; |
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B is the unpaid amount
payable to the vendor less all amounts, if any, required by subsection (4)
to be deducted from the unpaid amount for the purposes of determining the
amount of the rebate of tax under this section; and |
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C is the total amount
that was payable in respect of the sale, including any federal excise and
sales taxes and the amount of tax imposed by the Act. |
Deductions
from unpaid amount
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(4) For the purposes of
determining the amount of a rebate of tax under this section in respect of
an unpaid amount payable to a vendor, the following amounts, to the extent
they are applicable, shall be deducted from the unpaid amount:
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(a) all interest,
finance, carrying, collection or similar charges imposed by the vendor with
respect to the sale, except to the extent the charges form part of the fair
value of the goods sold by the vendor for the purposes of determining the
amount of tax payable under the Act in respect of the sale; |
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(b) all proceeds of sale
received by the vendor on any repossession and resale of the property on
account of the unpaid amount; |
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(c) all amounts received
by the vendor on the realization of any security given to secure the unpaid
amount payable to the vendor; |
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(d) if the goods sold by
the vendor to the purchaser are repossessed and leased by the vendor or are
taken out of inventory and used by the vendor or by others at the vendor's
expense, the fair value of the goods at the time of the leasing or change in
use. |
Rules governing claims for rebate
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(5) The following rules
apply for the purposes of claiming a rebate of tax under this section:
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(a) the vendor may claim
only one rebate under this section in respect of a sale; |
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(b) the vendor may claim
the rebate by making an adjustment to the vendor's tax liability account for
the amount of the rebate claimed; |
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(c) the vendor shall make
only one adjustment to the vendor's tax liability account during any
12-month period for all claims for rebate of tax under this section, unless
the vendor has applied in writing to the Commissioner for consent to make an
additional adjustment and the Commissioner has consented to the making of
the additional adjustment to the account; |
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(d) the vendor shall
retain in the vendor's records sufficient information and documentation to
permit the verification to the satisfaction of the Commissioner of the
correct amount of the tax rebate. |
Repayment
of rebate |
(6) If, after claiming a
rebate of tax under this section, a vendor recovers from any person or
through any means, other than a rebate under this section, any of the unpaid
amount payable to the vendor in respect of which the rebate of tax was
claimed, the vendor shall repay to the Minister by way of adjustment to the
vendor's tax liability account the same percentage of the rebate made under
this section that the amount recovered by the vendor is of the amount
designated as "B" in the formula in subsection (3) in respect of the unpaid
amount.
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Idem
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(7) For the purposes of
subsection (6), the repossession of goods and the sale or use by the vendor
or by others at the vendor's expense of the repossessed goods shall be
considered to be a recovery of part or all of the unpaid amount payable to
the vendor in respect of the sale of the goods to the extent of the lesser
of the unpaid amount and,
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(a) the proceeds from the
sale, if the repossessed goods are the subject of a resale; or |
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(b) the fair value of the
goods if the repossessed goods are used by the vendor or by others at the
vendor's expense. |
Repayment if recovery from purchaser
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(8)
Revoked by
EC185/08
(EC407/93; 185/08)
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Cancellation of permits
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(8.01) (1) The Minister may cancel or
suspend a permit issued under section 13.1 of the Revenue Tax Act
Regulations (EC262/60) if the permit holder fails to comply with any provision
of the Revenue Administration Act or a revenue Act, or any regulations
made thereunder.
(EC292/03)
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Reinstatement of cancelled permit
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(2) The Minister may, after cancelling or
suspending a permit, reinstate the permit if the Minister is satisfied that
the permit holder has complied with every provision of the Revenue
Administration Act or a revenue Act or any regulations made thereunder,
with which the permit holder had previously failed to comply.
(EC292-03)
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PART II |
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TOBACCO TAX
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Act,
defined
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9. In this
Part, "Act" means the Tobacco Tax Act R.S.P.E.I. 1988, Cap. T-3.11
and other terms such as "consumer", "retail licensed vendor" and "licensed
wholesale vendor" have the same meaning as set out in that Act.
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Allowance
for commission |
10. Revoked by
EC252-12.
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Disallowance of commission
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(2) Revoked
by EC252-12.
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Returns
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11. (1) On
or before the fifteenth day of each month a licensed wholesale vendor shall
file a return with the Commissioner, in a form approved by the Commissioner,
reporting all sales of tobacco made by the licensed wholesale vendor during
the calendar month immediately preceding and shall remit to the Minister the
tax collected during the period.
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Idem
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(2) Notwithstanding
subsection (1), a licensed wholesale vendor shall, at any time required by
the Commissioner, file a return reporting all sales of tobacco made by the
licensed wholesale vendor covering such period as the Commissioner may
determine, and shall therewith remit to the Minister the tax collected
during that period.
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Idem |
(3) Unless a
consolidated return has been approved by the Commissioner, every
licensed wholesale vendor shall make a separate return under this
section for each place of business operated by the licensed wholesale
vendor. |
Idem |
(4) Where a licensed
wholesale vendor is required to file a return reporting the sales of
tobacco and no sales of tobacco are made during the period for which the
return is required to be filed, the licensed wholesale vendor shall make
a return setting forth that fact. |
Disposal of
or discontinuance of business
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12.
When a licensed wholesale vendor disposes of or discontinues business, the
licensed wholesale vendor must, within ten days thereafter, file a return
reporting the sales of tobacco made during the unreported period for which
the return is required to be filed, and remit any tax collected.
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Disposal of business
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13.
Revoked by EC148-08.
(EC390/91; 148/08)
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PART II.1 |
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ENVIRONMENT TAX |
Definition, Act |
13.1 (1) In this Part, "Act" means the Environment Tax Act
R.S.P.E.I. 1988, Cap. E-8.3, and other terms such as "new tires",
"purchaser", "tax" and "registered vendor" have the same meaning as set out
in that Act. |
Definition, record |
(2) In this Part, "record" means any information
set down by handwriting, books of account, document, drawing, typewriting,
printing, photocopying, photographing, magnetic impulse, mechanical or
electronic recording or any other means.
(EC570/15) |
Quarterly return |
13.2 (1) On or before the twentieth day of the
month immediately following the end of each calendar quarter, every
registered vendor shall make a return to the Commissioner, in the form
approved by the Minister, reporting all sales of new tires made and the tax
collected by the registered vendor during the three-month period immediately
preceding, and shall remit to the Minister the tax collected during that
period. |
Particular returns |
(2) Notwithstanding subsection (1), a registered
vendor shall make a return to the Commissioner of all sales of new tires
made and tax collected by the registered vendor at any time required by the
Commissioner covering such period as the Commissioner may determine, and
shall therewith remit to the Minister the tax collected during such period. |
Return for each place of business |
(3) Unless a consolidated return has been approved
by the Commissioner, every registered vendor shall make a separate return in
respect of each place of business operated by the registered vendor. |
Return where no sales |
(4) Whenever a registered vendor is required to
make a return as required by subsection (1) and the registered vendor has
made no sales of new tires during the period in respect of which the return
is required, the registered vendor shall make a return setting forth that
fact. (EC570/15) |
Assignee, liquidation etc. to remit tax |
(5) For the purpose of subsection 1.5(2) of the
Act, any person referred to in subsection 1.5(1) of the Act shall remit to
the Minister by certified cheque or bank draft, within thirty days after
demand, all unremitted taxes collected by the registered vendor prior to the
person taking control or possession of the registered vendor's property or
carrying on or managing the business of the registered vendor.
(EC570/15) |
Particulars |
13.3 (1) Every registered vendor shall keep and maintain records sufficient
to furnish the Commissioner with the necessary particulars of |
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(a) sales of new tires; |
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(b) new tires purchased for the registered
vendor's own consumption or use; |
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(c) new tires taken from inventory for the
registered vendor's own consumption or use; |
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(d) out-of-province sales of new tires; |
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(e) non-taxable sales of new tires; |
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(f) taxable sales of new tires; |
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(g) amount of tax due or collected; and |
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(h) disposal of tax including commission taken. |
Records maintained in electronic form |
(2) Where a registered vendor maintains the records set out in subsection
(1) in electronic form, that registered vendor must ensure, for as long as
those records are required to be preserved, that the records |
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(a) remain complete and unaltered, apart from any
changes or additions made in the normal course of communication, storage or
display, from the time they were first made in final form; |
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(b) are accessible by the registered vendor which
is required to retain them; and |
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(c) are capable of being printed and of being
produced in electronically readable format for inspection, examination or
audit. |
Inspection of electronically maintained records |
(3) In order to inspect records that are
maintained electronically at the place of inspection, the Commissioner, an
inspector or any person authorized by the Minister may require the
registered vendor to produce the records in the form of a printout or to
produce them in an electronically readable format, or to do both. |
Presentation of records |
(4) Every registered vendor shall preserve all
records until such time as the Commissioner may authorize their destruction.
(EC570/15) |
Allowance or commission |
13.4 (1) A registered vendor may be paid for the
services rendered by the registered vendor, during a fiscal year of the
province, in collecting and remitting the tax to the Minister, a sum
equivalent to three per cent of the amount of the tax collected by the
registered vendor to a maximum of $300 for each fiscal year of the province,
if the registered vendor reported tax collected or deposits received for the
immediately preceding fiscal year of the province in an amount less than or
equal to $10,000. |
No allowances or commission circumstances |
(2) A registered vendor shall not be paid for the
services rendered by the registered vendor, during a fiscal year of the
province, in collecting and remitting the tax to the Minister, if the
registered vendor reported tax collected for the immediately preceding
fiscal year of the province in an amount greater than $10,000. |
Disallowance |
(3) The Minister may disallow payments of the
allowance to any registered vendor where the Minister is satisfied that the
registered vendor has failed to collect the tax or to make a return as
required under the Act or the Revenue Administration Act or these
regulations. (EC570/15) |
Charged items |
13.5 Where a registered vendor has made sales on a
charge or instalment basis without collecting the tax at the time of sale
the registered vendor is required to report such sales in the quarterly
return for the period in which the sale took place and report and remit the
tax thereon. (EC570/15) |
Sale by instalments |
13.6 (1) The tax shall be collected on the total
amount of a sale for which payment may be received by instalments. |
Idem |
(2) For greater certainty, in the computation of
the tax, the total amount referred to in subsection (1) includes any amount
received in cash at the time of the sale and all payments to be received
later, but does not include interest and finance charges that form part of
the contract but appear as separate items.
(EC570/15) |
Cancellation of vendor's certificate |
13.7 (1) Subject to the approval of the Minister,
the Commissioner may cancel or suspend the registration certificate of any
registered vendor under the following circumstances: |
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(a) where a registered vendor has failed to comply
with any provision of the Act or the Revenue Administration Act or these
regulations; |
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(b) where the Commissioner has reason to believe a
registered vendor has been or is carrying on business in contravention of
the Act or the Revenue Administration Act or these regulations; |
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(c) where a registered vendor is in default in
remitting tax collected by the registered vendor under the Act; or |
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(d) where a certificate has been filed with the
Registrar of the Supreme Court under section 13 of the Revenue
Administration Act. |
Reinstatement of cancelled certificate |
(2) The Commissioner may reinstate a registration
certificate which has been suspended or cancelled under the following
circumstances: |
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(a) where the Commissioner is satisfied that the
registered vendor has complied with the provision of the Act or the Revenue
Administration Act or these regulations with which the registered vendor
failed to comply or which the registered vendor contravened; |
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(b) where the registered vendor has remitted to
the province the tax collected by the registered vendor which was due and
payable; or |
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(c) where the registered vendor has discharged the
certificate filed with the Registrar of the Supreme Court under section 13
of the Revenue Administration Act by payment of the amount due therein. |
Vendor may appeal |
(3) Before a suspension or cancellation may be
made the registered vendor shall be afforded an opportunity to appear before
the Commissioner to show cause why the registration certificate should not
be suspended or cancelled as the case may be.
(EC570/15) |
Rebate of tax remitted in respect of bad debt |
13.8 (1) The Minister may, in accordance with this
section, rebate to a registered vendor the tax that the registered vendor
remitted to the Minister in respect of a sale of new tires by the registered
vendor to a purchaser if the Minister is satisfied that |
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(a) the registered vendor has given credit to the
purchaser with respect to the sale of new tires, together with the tax
payable by the purchaser; |
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(b) the purchaser has defaulted in the payment to
the registered vendor of all or part of the amount payable to the registered
vendor in respect of the sale; |
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(c) the registered vendor has written off as a bad
debt in the registered vendor's books of account the unpaid amount payable
to the registered vendor in respect of the sale; and |
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(d) the write-off of the unpaid amount payable to
the registered vendor as a bad debt is in accordance with generally accepted
accounting principles, as recognized by the Chartered Professional
Accountants of Canada, applicable at the time of the write-off. |
Circumstances in which rebate may not be payable |
(2) Notwithstanding subsection (1), no rebate of
tax shall be made to a registered vendor under this section in respect of an
unpaid amount payable to the registered vendor if |
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(a) the registered vendor does not claim the
rebate within four years from the effective date of the registered vendor's
write-off of the unpaid amount as a bad debt; |
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(b) the registered vendor is entitled to offset
the unpaid amount against an amount payable by the registered vendor to the
purchaser; |
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(c) the registered vendor has assigned, without
recourse and for consideration, other than for security purposes, part or
all of the unpaid amount; or |
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(d) the payment for the purchase was made through
the use of a credit card that is not issued by the registered vendor. |
Calculation of rebate |
(3) The tax that may be rebated to a registered
vendor under this section shall be determined in accordance with the
following formula: |
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Rebate = A x B/C |
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where, |
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A is the tax remitted by the registered vendor
with respect to the sale of new tires to the purchaser; |
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B is the unpaid amount payable to the registered
vendor less all amounts, if any, required by subsection (4) to be deducted
from the unpaid amount for the purposes of determining the amount of the
bate of tax under this section; and |
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C is the total amount that was payable in respect
of the sale, including any federal excise and sales taxes and the amount of
tax imposed by the Act. |
Deduction from unpaid amount |
(4) For the purposes of determining the amount of
a rebate of tax under this section in respect of an unpaid amount payable to
a registered vendor, the following amounts, to the extent they are
applicable, shall be deducted from the unpaid amount: |
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(a) all interest, finance, carrying, collection or
similar charges imposed by the registered vendor with respect to the sale,
except to the extent the charges are included in the total amount that was
payable in respect of the sale; |
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(b) all proceeds of sale received by the
registered vendor on any repossession and resale of the property on account
of the unpaid amount; |
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(c) all amounts received by the registered vendor
on the realization of any security given to secure the unpaid amount payable
to the registered vendor; |
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(d) if the new tires sold by the registered vendor
to the purchaser are repossessed and are taken out of inventory and used by
the registered vendor or by others at the registered vendor's expense, the
fair value of the new tires at the time of the change in use. |
Rules governing
claims for rebate |
(5) The following rules apply for the purposes of
claiming a rebate of tax under this section: |
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(a) the registered vendor may claim only one
rebate under this section in respect of a sale; |
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(b) the registered vendor may claim the rebate by
making an adjustment to the registered vendor's tax liability account for
the amount of the rebate claimed; |
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|
(c) the registered vendor shall make only one
adjustment to the registered vendor's tax liability account during any
12-month period for all claims for rebate of tax under this section, unless
the registered vendor has applied in writing to the Commissioner for consent
to make an additional adjustment and the Commissioner has consented to the
making of the additional adjustment to the account; |
|
|
(d) the registered vendor shall retain in the
registered vendor's records sufficient information and documentation to
permit the verification to the satisfaction of the Commissioner of the
correct amount of the tax rebate. |
Repayment of rebate |
(6) If, after claiming a rebate of tax under this
section, a registered vendor recovers from any person or through any means,
other than a rebate under this section, any of the unpaid amount payable to
the registered vendor in respect of which the rebate of tax was claimed, the
registered vendor shall repay to the Minister by way of adjustment to the
registered vendor's tax liability account the same percentage of the rebate
made under this section that the amount recovered by the registered vendor
is of the amount designated as "B" in the formula in subsection (3) in
respect of the unpaid amount. |
Idem |
(7) For the purposes of subsection (6), the
repossession of new tires and the sale or use by the registered vendor or by
others at the registered vendor's expense of the repossessed new tires shall
be considered to be a recovery of part or all of the unpaid amount payable
to the registered vendor in respect of the sale of the new tires to the
extent of the lesser of the unpaid amount and, |
|
|
(a) the proceeds from the sale, if the repossessed
new tires are the subject of a resale; or |
|
|
(b) the fair value of the new tires if the
repossessed new tires are used by the registered vendor or by others at the
registered vendor's expense.
|
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PART III |
|
GENERAL
|
Rate of interest
|
14. For the purposes of subsections 16(1) and (2) of
the Revenue Administration Act the prescribed rate of interest is 1.5
per cent per month.
(EC390/91)
|
Penalty
|
14.1 The
penalty that may be levied pursuant to subsection 21(4) of the Act for the
issue of a non-negotiable cheque is $35 in respect of each cheque issued.
(EC274/94)
|
Prescribed forms
|
15. The forms set
out in the Schedule are prescribed.
(EC390/91)
|
Notices of assessment
|
15.1 The Minister may by notice published in the
Gazette designate any officer of the Provincial Treasury to issue and sign notices of
assessment and exercise the powers of the Commissioner pursuant to section 3 of the Revenue
Administration Act.
(EC506/95)
|
Assessments, back
taxes |
15.2 In making
an assessment pursuant to the Revenue Administration Act, the Commissioner
shall not consider a period prior to the sixty months immediately
preceding the month in which the assessment is made, except
(EC464/03) |
|
|
(a) with respect to a sale
or purchase of goods recorded in the books of account of the taxpayer
during the sixty month period immediately preceding the month in which the
assessment is made and the delivery of these goods took place prior to
that period; or
(EC464/03) |
|
|
(b) where there is a
reasonable appearance of wilful default or fraud to the Commissioner.
(EC464/03) |
Amendments
|
16. Various
amendments.
(EC390/91)
|
Waiver - extraordinary circumstances
|
17. (1) Any penalty or interest assessed against a
taxpayer may be waived by the Commissioner where the penalty or interest results from
non-compliance by the taxpayer with the Revenue Administration Act or a revenue
Act, or any regulations made thereunder; as a result of one or more of the following
extraordinary circumstances:
|
|
|
(a) a natural disaster such as a flood, fire or storm; |
|
|
(b) a personal tragedy such as the serious illness or death of, or in the family of |
|
|
|
(i) a taxpayer, or |
|
|
|
(ii) a person who oversees and ensures a taxpayer's compliance with the Revenue
Administration Act or a revenue Act, or any regulations made thereunder; |
|
|
(c) the theft or vandalism of records; or |
|
|
(d) a civil disturbance.
|
Waiver - administrative error or delay
|
(2) Any penalty or interest assessed against a taxpayer may be waived
by the Commissioner where the assessment is the result of any of the following
administrative errors or delays by the Commissioner:
|
|
(a) a delay in processing returns that results in a lengthy delay in informing the
taxpayer of amounts owing; |
|
|
(b) incorrect written information being provided to the taxpayer; |
|
|
(c) an unreasonable delay in providing required information to the taxpayer; |
|
|
(d) an error in materials prepared and distributed by the Commissioner to the general
public; or |
|
|
(e) a change in the interpretation of the Revenue Administration Act or a revenue
Act, or any regulations made thereunder, after a tax return has been filed by a taxpayer
based on a prior interpretation of the Revenue Administration Act or a revenue
Act, or any regulations made thereunder.
|
Decision on waiver
|
(3) The decision of the Commissioner on the waiver of any penalty or
interest pursuant to this section is final and is not subject to objection or appeal.
(EC185/00)
|
Refund
|
18. (1) An application under
subsection 19(1) or 19(5) of the Revenue Administration Act for a
refund of an amount paid as tax shall be made, in writing, to the Commissioner
and shall include
|
|
|
(a) the reason for requesting the refund; and
(EC292/03) |
|
|
(b) such information or documents, including invoices and receipts, as the
Commissioner may require, respecting the payment of the amount of tax for
which the refund is requested.
(EC292/03)
|
Form
|
(2) Any information or documents
required by the Commissioner in respect of an application under subsection (1)
shall be provided or presented by the applicant in such form or manner as the
Commissioner may require.
(EC292/03)
|
|
SCHEDULE |
|
FORM 1 |
|
NOTICE OF
OBJECTION
|
|
Revoked by EC197/11 |
|
FORM 2 |
|
NOTICE OF
APPEAL
|
|
Revoked by EC197/11 |
|
FORM 3 |
|
HEALTH TAX BRANCH |
DEPARTMENT OF THE PROVINCIAL TREASURY |
|
PROVINCE OF PRINCE EDWARD ISLAND |
APPLICATION FOR LICENSE TO WHOLESALE TOBACCO
|
|
|
Revoked by EC292/03
|
|
FORM 4 |
|
HEALTH TAX BRANCH |
DEPARTMENT OF THE PROVINCIAL TREASURY |
|
PROVINCE OF PRINCE EDWARD ISLAND |
APPLICATION FOR LICENSE TO
RETAIL TOBACCO
|
|
|
Revoked by EC292/03
|
|
FORM 5 |
|
HEALTH TAX BRANCH |
DEPARTMENT OF THE PROVINCIAL TREASURY |
|
PROVINCE OF PRINCE EDWARD ISLAND |
LICENSE - TOBACCO VENDOR
|
|
|
Revoked by EC292/03
|
_______ |