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

Section 434r12 Disposition versions

2012-09-01

434R12. For the purpose of determining any amount under sections 434R0.5 to 434R0.15, other than an amount of net tax that is required by sections 434R0.1 to 434R12 to be determined in accordance with section 428 of the Act, if at any time a registrant, who has filed an election that is in effect at that time, makes a taxable supply of property or a service to a person with whom the registrant is not dealing at arm’s length for no consideration or for consideration less than the fair market value of the property or service at that time, the supply is deemed to have been made for consideration, paid at that time, equal to that fair market value and tax calculated on that consideration is deemed to have become collectible, and to have been collected, at that time.

O.C. 1463-2001, s. 43.