6.2. For the purpose of determining the gross value of the annual output of an operator for a fiscal year, the value of the mineral substances from a mine that are gemstones corresponds to the gross value of the annual output of the gemstones, to be determined according to the following rules:
(1) the gross value of the annual output of the gemstones is determined at the mine site–or outside the mine site with the Minister’s authorization, under the conditions determined by the Minister, following a written application by the operator–on the basis of their value before they are cut or polished and, for that purpose, the operator must sort and clean them to facilitate their valuation;
(2) the gross value of the annual output of the gemstones is determined, on the basis of the criterion set out in subparagraph 1, by both the operator and a valuator mandated by the Minister for that purpose; and
(3) the gross value of the annual output of the gemstones corresponds,
(a) if the operator and the Minister agree on the value, to the amount which they have agreed on, or
(b) if the rules set out in subparagraph 1 are not complied with or if the operator and the Minister do not agree on the value, to the maximum value that could be obtained as consideration for the alienation of the gemstones on the open market after they are sorted into market assortments.
Despite the first paragraph, if particular gemstones from the mine have not been mixed with other gemstones, if the operator alienates the particular gemstones in a fiscal year in favour of a person to whom the operator is not related within the meaning of Chapter IV of Title II of Book I of Part I of the Taxation Act (chapter I-3) at the time of the alienation, and if the alienation occurs in the same fiscal year as the fiscal year in which the gross value of the annual output of the gemstones was determined in accordance with the first paragraph, their gross value is deemed to correspond to the amount received or receivable as consideration for that alienation.
The operator is bound to provide to the valuator mandated by the Minister the facilities and the equipment, other than computer equipment, required to determine the gross value of the annual output of the gemstones.
2011, c. 6, s. 20; 2015, c. 21, s. 44; 2017, c. 1, s. 54.