Penalties and Interest Under IFTA
Penalties
A penalty will be imposed for:
- not filing your returns
- filing your returns late
- not paying the full amount of tax owed
The penalty will be the higher of the following amounts:
- $50
- 10% of the total tax owed for each type of fuel reported
No credit in reserve can be used to reduce the balance due on which a penalty is calculated.
Interest rates
Interest charges will be calculated on any portion of the tax not paid by the payment deadline.
For more information, consult the document Information Regarding Fuel Tax Rates – IFTA (CAR-512.1-V).
Penalties and Interest Under IFTA
| Period
|
Rate in effect
|
| April 1 – June 30, 2012
|
3%
|
| January 1 – March 31, 2012
|
3%
|
| October 1 – December 31, 2011
|
3%
|
| July 1 – September 30, 2011
|
3%
|
| April 1 – June 30, 2011
|
3%
|
| January 1 – March 31, 2011
|
3%
|
| October 1 – December 31, 2010
|
3%
|
| July 1 – September 30, 2010
|
3%
|
| April 1 – June 30, 2010
|
3%
|
| January 1 – March 31, 2010
|
3%
|
| October 1 – December 31, 2009
|
3%
|