Published | Category : Consumption taxes other than GST and QST
Increase in the Tobacco Tax Effective as of 12:01 a.m. on June 5, 2014
The Minister of Finance today announced an increase in the tobacco tax. The increase is effective as of 12:01 a.m. on June 5, 2014.
Retail dealers and collection agents that, at 12:01 a.m. on June 5, 2014, have tobacco products in stock on which they paid (or should have paid) an amount equal to the tobacco tax must take inventory of those products at that time. They must then remit, no later than July 4, 2014, an amount equal to the difference between the tobacco tax applicable at the new rate and the tax applicable at the rate in effect before June 5, 2014.
A copy of form TAZ-7.12-V, Inventory of Tobacco Products in Stock, which includes a remittance slip, will be mailed to retail dealers and collection agents on June 5, 2014. If you sell tobacco products and you do not receive a copy of the form, please contact Revenu Québec.
For more information, click Increase in the Tobacco Tax.