T-0.1 - Act respecting the Québec sales tax

Section 457.7 Disposition versions

2013-01-01

457.7. Where an authorization granted to a registrant under section 350.23.7 is in effect at any time in a fiscal year of the registrant and the shipping revenue percentage of the registrant, as defined in section 350.23.1, for that year is less than 90% or the circumstances described in paragraph 1 or 2 of section 350.23.11 exist in respect of the year, the registrant shall, in determining the net tax for the first reporting period of the registrant following the year, add the amount determined by the formula

A × B/12.

For the purposes of the formula,

(1)  A is the product obtained when 9.975% is multiplied by the total of all amounts each of which is consideration paid or payable by the registrant for a supply made in Québec of property acquired by the registrant in the year that is a zero-rated supply only because it is referred to in section 179.2, other than a supply in respect of which the registrant is required under section 457.6 to add an amount in determining net tax for any reporting period; and

(2)  B is the rate of interest prescribed under section 28 of the Tax Administration Act (chapter A-6.002) that is in effect on the last day of that first reporting period.

2003, c. 2, s. 349; 2009, c. 5, s. 670; 2010, c. 31, s. 175; 2011, c. 6, s. 284; 2012, c. 28, s. 169.

2012-01-01

457.7. Where an authorization granted to a registrant under section 350.23.7 is in effect at any time in a fiscal year of the registrant and the shipping revenue percentage of the registrant, as defined in section 350.23.1, for that year is less than 90% or the circumstances described in paragraph 1 or 2 of section 350.23.11 exist in respect of the year, the registrant shall, in determining the net tax for the first reporting period of the registrant following the year, add the amount determined by the formula

A × B/12.

For the purposes of the formula,

(1)  A is the product obtained when 9.5% is multiplied by the total of all amounts each of which is consideration paid or payable by the registrant for a supply made in Québec of property acquired by the registrant in the year that is a zero-rated supply only because it is referred to in section 179.2, other than a supply in respect of which the registrant is required under section 457.6 to add an amount in determining net tax for any reporting period; and

(2)  B is the rate of interest prescribed under section 28 of the Tax Administration Act (chapter A-6.002) that is in effect on the last day of that first reporting period.

2003, c. 2, s. 349; 2009, c. 5, s. 670; 2010, c. 31, s. 175; 2011, c. 6, s. 284.

2011-06-06

457.7. Where an authorization granted to a registrant under section 350.23.7 is in effect at any time in a fiscal year of the registrant and the shipping revenue percentage of the registrant, as defined in section 350.23.1, for that year is less than 90% or the circumstances described in paragraph 1 or 2 of section 350.23.11 exist in respect of the year, the registrant shall, in determining the net tax for the first reporting period of the registrant following the year, add the amount determined by the formula

A × B/12.

For the purposes of the formula,

(1)  A is the product obtained when 8.5% is multiplied by the total of all amounts each of which is consideration paid or payable by the registrant for a supply made in Québec of property acquired by the registrant in the year that is a zero-rated supply only because it is referred to in section 179.2, other than a supply in respect of which the registrant is required under section 457.6 to add an amount in determining net tax for any reporting period; and

(2)  B is the rate of interest prescribed under section 28 of the Tax Administration Act (chapter A-6.002) that is in effect on the last day of that first reporting period.

2003, c. 2, s. 349; 2009, c. 5, s. 670; 2010, c. 31, s. 175; 2011, c. 6, s. 284.

2011-04-01

457.7. Where an authorization granted to a registrant under section 350.23.7 is in effect at any time in a fiscal year of the registrant and the shipping revenue percentage of the registrant, as defined in section 350.23.1, for that year is less than 90% or the circumstances described in paragraph 1 or 2 of section 350.23.11 exist in respect of the year, the registrant shall, in determining the net tax for the first reporting period of the registrant following the year, add the amount determined by the formula

A × B / 12.

For the purposes of the formula,

(1)  A is the product obtained when 7.5% is multiplied by the total of all amounts each of which is consideration paid or payable by the registrant for a supply made in Québec of property acquired by the registrant in the year that is a zero-rated supply only because it is referred to in section 179.2, other than a supply in respect of which the registrant is required under section 457.6 to add an amount in determining net tax for any reporting period; and

(2)  B is the rate of interest prescribed under section 28 of the Tax Administration Act (chapter A-6.002) that is in effect on the last day of that first reporting period.

2003, c. 2, s. 349; 2009, c. 5, s. 670; 2010, c. 31, s. 175.

2009-05-15

457.7. Where an authorization granted to a registrant under section 350.23.7 is in effect at any time in a fiscal year of the registrant and the shipping revenue percentage of the registrant, as defined in section 350.23.1, for that year is less than 90% or the circumstances described in paragraph 1 or 2 of section 350.23.11 exist in respect of the year, the registrant shall, in determining the net tax for the first reporting period of the registrant following the year, add the amount determined by the formula

A × B / 12.

For the purposes of the formula,

(1)  A is the product obtained when 7.5% is multiplied by the total of all amounts each of which is consideration paid or payable by the registrant for a supply made in Québec of property acquired by the registrant in the year that is a zero-rated supply only because it is referred to in section 179.2, other than a supply in respect of which the registrant is required under section 457.6 to add an amount in determining net tax for any reporting period; and

(2)  B is the rate of interest prescribed under section 28 of the Act respecting the Ministère du Revenu (chapter M-31) that is in effect on the last day of that first reporting period.

2003, c. 2, s. 349; 2009, c. 5, s. 670.

2003-07-03

457.7. Where an authorization granted to a registrant under section 350.23.7 is in effect at any time in a fiscal year of the registrant and the shipping revenue percentage of the registrant, as defined in section 350.23.1, for that year is less than 90% or the circumstances described in paragraph 1 or 2 of section 350.23.11 exist in respect of the year, the registrant shall, in determining the net tax for the first reporting period of the registrant following the year, add the amount determined by the formula

A × B / 12.

For the purposes of the formula,

(1)  A is the product obtained when 7.5% is multiplied by the total of all amounts each of which is consideration paid or payable by the registrant for a supply made in Québec of property acquired by the registrant in the year that is a zero-rated supply only because it is referred to in section 179.2, other than a supply in respect of which the registrant is required under section 457.6 to add an amount in determining net tax for any reporting period; and

(2)  B is the total of 4% and the rate of interest prescribed under section 28 of the Act respecting the Ministère du Revenu (chapter M‐31), expressed as a percentage per year, that is in effect on the last day of that first reporting period.

2003, c. 2, s. 349.