17R5. The bringing into Québec of a vessel that is imported temporarily in the circumstances referred to in paragraph a of section 11 of the Vessel Duties Reduction or Removal Regulations (SOR 90-304) is a prescribed circumstance.
The value of a vessel referred to in the first paragraph shall be determined by the following formula:
(1/50 x A x B) + (C x D/E).
For the purposes of that formula:
(1) A is the value for duty of the vessel;
(2) B is the number of months during which the vessel is subject to paragraph a of section 11 of the Regulations referred to in the first paragraph;
(3) C is the remaining duties payable in respect of the vessel;
(4) D is the number of months during which the vessel remains in Québec;
(5) E is the number of months during which the vessel remains in Canada.
O.C. 1607-92, s. 17R5; O.C. 1470-2002, s. 1.