T-0.1, r. 2 - Regulation respecting the Québec sales tax

Section 433.16r12 Disposition versions

2017-04-12

433.16R12. The positive amount determined by the following formula is a prescribed amount for a particular reporting period in a fiscal year that ends in a taxation year of a selected listed financial institution:

G1 × G2 × (G3 / G4).

For the purposes of the formula in the first paragraph,

(1)  G1 is the total of all amounts each of which is an amount of tax that was paid or that became payable by the financial institution under subsection 1 of section 165 of the Excise Tax Act (R.S.C. 1985, c. E-15) or under any of sections 212, 218 and 218.01 of that Act during a reporting period for the purposes of Part IX of that Act that ends before 1 January 2013 and in respect of which the financial institution has claimed an input tax credit in the return under Division V of Part IX of that Act filed by the financial institution for the particular reporting period, to the extent that the amount was included in the total B amounts for the particular reporting period;

(2)  G2 is the specified percentage of the financial institution as regards Québec for the particular reporting period;

(3)  G3 is the tax rate specified in the first paragraph of section 16 of the Act; and

(4)  G4 is the tax rate specified in subsection 1 of section 165 of the Excise Tax Act.

O.C. 320-2017, s. 4.