Petroleum Tax

Legislation
Click on the link for a copy of Nunavut’s Petroleum Products Tax Act or Petroleum Products Tax Regulations.

Application
Nunavut imposes petroleum products taxes on an ad-valorem basis and these are calculated as a percentage of a prescribed taxable price.

Rates of Tax
Please refer to the Nunavut Tax Rate Sheet for this year’s petroleum tax rates.

Collection of Tax
Tax is applied on sales to consumers but collected at the wholesale level and remitted monthly by fuel tax collectors. These collectors also remit tax on their own use.

Licensing
Petroleum wholesalers/importers must enter into a Collector's Agreement and a security bond may be required.

Monthly Reports
Fuel tax collectors are required to report and remit tax by the 28th day of each month, based on sales in the previous month.

Compliance Measures
Penalties
The Minister may assess a penalty equal to 10% of the amount due up to $500 plus interest against any person who fails to remit any tax collected when required.

Fines
Maximum of $5,000 and any tax due and/or imprisonment up to 3 months.

Audit
In making an assessment the Minister shall not consider a period or periods of time greater than six years prior to the date of commencement of the inspection, audit or examination of the books of account, records or documents unless there is evidence that the person has committed fraud where no limitation applies.

For more information on Nunavut’s Petroleum Products Tax email us at @email.

Contact
For more information on Nunavut’s Petroleum Products Tax email us at @email.