T-0.1 - Act respecting the Québec sales tax

Section 457.5 Disposition versions

2013-01-01

457.5. Where an authorization granted to a registrant to use a shipping certificate, within the meaning of section 427.3, is deemed to have been revoked under section 427.7 from the day after the last day of a fiscal year of the registrant, the registrant shall, in determining the net tax for the first reporting period of the registrant following that 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 an item of inventory acquired by the registrant in the year that is a zero-rated supply only because it is referred to in section 179.1, other than a supply in respect of which the registrant is required under section 457.4 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. 668; 2010, c. 31, s. 175; 2011, c. 6, s. 283; 2012, c. 28, s. 168.

2012-01-01

457.5. Where an authorization granted to a registrant to use a shipping certificate, within the meaning of section 427.3, is deemed to have been revoked under section 427.7 from the day after the last day of a fiscal year of the registrant, the registrant shall, in determining the net tax for the first reporting period of the registrant following that 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 an item of inventory acquired by the registrant in the year that is a zero-rated supply only because it is referred to in section 179.1, other than a supply in respect of which the registrant is required under section 457.4 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. 668; 2010, c. 31, s. 175; 2011, c. 6, s. 283.

2011-06-06

457.5. Where an authorization granted to a registrant to use a shipping certificate, within the meaning of section 427.3, is deemed to have been revoked under section 427.7 from the day after the last day of a fiscal year of the registrant, the registrant shall, in determining the net tax for the first reporting period of the registrant following that 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 an item of inventory acquired by the registrant in the year that is a zero-rated supply only because it is referred to in section 179.1, other than a supply in respect of which the registrant is required under section 457.4 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. 668; 2010, c. 31, s. 175; 2011, c. 6, s. 283.

2011-04-01

457.5. Where an authorization granted to a registrant to use a shipping certificate, within the meaning of section 427.3, is deemed to have been revoked under section 427.7 from the day after the last day of a fiscal year of the registrant, the registrant shall, in determining the net tax for the first reporting period of the registrant following that 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 an item of inventory acquired by the registrant in the year that is a zero-rated supply only because it is referred to in section 179.1, other than a supply in respect of which the registrant is required under section 457.4 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. 668; 2010, c. 31, s. 175.

2009-05-15

457.5. Where an authorization granted to a registrant to use a shipping certificate, within the meaning of section 427.3, is deemed to have been revoked under section 427.7 from the day after the last day of a fiscal year of the registrant, the registrant shall, in determining the net tax for the first reporting period of the registrant following that 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 an item of inventory acquired by the registrant in the year that is a zero-rated supply only because it is referred to in section 179.1, other than a supply in respect of which the registrant is required under section 457.4 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. 668.

2003-07-03

457.5. Where an authorization granted to a registrant to use a shipping certificate, within the meaning of section 427.3, is deemed to have been revoked under section 427.7 from the day after the last day of a fiscal year of the registrant, the registrant shall, in determining the net tax for the first reporting period of the registrant following that 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 an item of inventory acquired by the registrant in the year that is a zero-rated supply only because it is referred to in section 179.1, other than a supply in respect of which the registrant is required under section 457.4 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.