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Consolidated Newfoundland Regulation 1996


CONSOLIDATED NEWFOUNDLAND REGULATION 30/96

CONSOLIDATED NEWFOUNDLAND REGULATION 30/96

Taxation of Utilities and Cable Television
Companies Regulations

under the
Taxation of Utilities and Cable Television
Companies Act

(O.C. 96‑205)

Under the authority of section 9 of the Taxation of Utilities and Cable Television Companies Act and the Subordinate Legislation Revision and Consolidation Act, the Lieutenant‑Governor in Council makes the following regulations.

REGULATIONS

Analysis


        1.   Short title

        2.   Rate of tax

        3.   Interest

        4.   Record keeping requirements

        5.   Taxation particulars

        6.   Repeal


Short title

        1. These regulations may be cited as the Taxation of Utilities and Cable Television Companies Regulations.

32/94 s1

Rate of tax

        2. (1) The rate of tax imposed under subsection 6(1) of the Act for a cable television company shall be 0%.

             (2)  The rate of tax imposed under subsection 6(1) for a utility other than a cable television operator shall be

             (a)  for 1993, 1/3 of 2.5%;

             (b)  for 1994, 2/3 of 2.5%; and

             (c)  for 1995 and subsequent years, 2.5%.

             (3)  For the calendar year 1993, the tax payable under subsection 6(1) shall be remitted not later than February 1, 1994.

             (4)  For years subsequent to 1993 the tax imposed under subsection 6(1) of the Act shall be remitted at the time required for submission of the statement of gross revenue under subsection 6(2) of the Act.

32/94 s2

Interest

        3. (1) Interest shall be levied upon a sum owing under section 6 of the Act at the rate of 1.2% compounded per month or part of a month from the date the sum is required to be paid until the date it is paid.

             (2)  Interest shall not be levied for a month in which the sum due is less than $100.

32/94 s3

Record keeping requirements

        4. Each utility and cable television company shall keep books of account, records and documents showing

             (a)  the gross revenue derived in each municipality that is served by the utility or cable television company;

             (b)  the gross revenue derived in unincorporated areas which are served by the utility or cable television company;

             (c)  the amount of tax payable to a municipality or the Crown;

             (d)  the amount of tax collected on behalf of each municipality which imposes a tax under section 7 of the Act;

             (e)  the accounting for the tax; and

              (f)  other accounts, records or documents that the Minister of Finance may direct.

32/94 s4

Taxation particulars

        5. (1) Where a council imposes a tax under the Act, the provisions of the Municipalities Act, the City of Corner Brook Act, the City of Mount Pearl Act and the St. John's Assessment Act apply with respect to the means of imposition of the tax rate, the method and time of remittance of tax payable and the rate of interest imposed on overdue taxes.

             (2)  Notwithstanding subsection (1), the reporting periods with respect to taxes collected by a utility which are imposed under section 7 of the Act shall be

             (a)  January 1 to June 30; and

             (b)  July 1 to December 31.

             (3)  A utility shall file a return for each of the reporting periods specified in subsection (2) not later than the 20th of the month following the reporting period.

             (4)  A return filed under subsection (3) shall be accompanied by the tax payable for the reporting period.

32/94 s5

Repeal

        6. The Taxation of Utilities and Cable Television Companies Regulations, Newfoundland Regulation 32/94, are repealed.