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Petroleum Tax

For more information on Nunavut’s Petroleum Products Tax email us at petroleumtax@gov.nu.ca.

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

Fines and Penalties

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 petroleumtax@gov.nu.ca