As an IFTA licensee, you declare your fuel purchases and travel within one month of the end of each quarter. The Ministry of Finance will send you an IFTA tax return at least 30 days before each due date. The IFTA Tax Rate Matrix is the official source of all IFTA fuel tax rates. If you are transporting goods for another person, a contract may make the carrier and not the owner of the vehicle responsible for reporting and paying fuel taxes. The contract must identify the following: A single driver`s license allows qualified vehicles to make conditional trips to another jurisdiction. The permit is valid for a vehicle that makes a single trip to another jurisdiction for a predetermined distance and period of time. Simple driver`s licenses may include other fees in addition to fuel tax. In the absence of a valid IFTA licence, eligible vehicles must obtain separate individual driving authorisations prior to each inter-road journey. States assess fuel taxes and excise duties based on weight, kilometres driven and the amount of fuel purchased. Returns must be submitted annually, quarterly or monthly, depending on the type of return. A person who commits a crime related to the improper use of coloured fuel in Ontario will be fined $465 for the first offence and related charges. Fines of up to $1 million or imprisonment for up to two years are possible for other Fuel Tax Act violations, such as manipulation.
B of colored fuel. Violators are also examined and can be assessed with taxes, penalties and interest. Under IFTA, air carriers report between jurisdictions the amount of fuel consumed and the distance travelled in each jurisdiction. Member jurisdictions work together to track, collect and share taxes payable on fuels such as gasoline, diesel, propane, gasohol, methanol, ethanol, natural gas and biodiesel. In your IFTA tax return, you indicate the amount of fuel paid you purchased and the distance you travelled in each jurisdiction. You will compensate overpayments in one jurisdiction for amounts due in other jurisdictions. If the bottom line is insufficient, send a payment to Ontario. If the net result is an overpayment, you will receive a refund from Ontario. The agreement allows registered air carriers to obtain a licence issued by their base jurisdiction to report and pay fuel taxes to a single jurisdiction.
Applications will be processed within 3-5 business days of receipt. There is a $15 deposit fee, a $3 license fee, and a $2 fee for each set of stickers. You need one set per qualified vehicle. IFTA was created to simplify things, but there are still deadlines to meet and submit documents. If you`re worried about following the terms of the IFTA license, let the experts at TruckingOffice help you. Our software will make your life easier by helping you track fuel consumption tax reports, manage your bills, shipments, fuel purchases and much more. Your miles are automatically calculated with PC*Miler.