The province of Prince Edward Island has issued this notice to clarify the tax treatment under the International Fuel Tax Agreement (“IFTA”) for fuel purchased in Minnesota and British Columbia. For fuel purchased in Minnesota, effective August 1, 2008, the tax rate on gasoline and diesel fuel increased from $0.0593 per litre to $0.0606. For fuel purchased in British Columbia, carbon tax applies to fuels, including gasoline, diesel and propane, effective July 1, 2008. IFTA licensees are now required to remit motor fuel tax and carbon tax as a combined rate on their quarterly IFTA Tax Return.
PEI GTN 192