Canada–Newfoundland and Labrador Atlantic Accord Implementation Act

Marginal note:Imposition of consumption taxes in offshore area

• 207 (1) There shall be imposed, levied and collected under this Part in respect of the offshore area, in accordance with subsection (3), the taxes, interest and penalties that would be imposed, levied and collected under the Consumption Tax Acts if the offshore area were in the Province.

• Marginal note:Exception

  (2) Despite subsection (1), if taxes are imposed in respect of any matter under any of the Consumption Tax Acts and taxes would, but for this subsection, be imposed under subsection (1) in respect of that matter, no taxes shall be imposed under subsection (1) in respect of that matter.

• Marginal note:Application of Newfoundland and Labrador legislation

  (3) Subject to this Act and the regulations made under it, the Consumption Tax Acts and the regulations referred to in subsection (3.1) apply, with any modifications that the circumstances require, for the purposes of this Part and, without limiting the generality of the foregoing,

  • (a) a reference in those Acts to the Crown is to be read as a reference to Her Majesty in right of Canada;

  • (b) a reference in those Acts to the province is to be read as a reference to the offshore area; and

  • (c) a reference in those Acts to the Minister responsible for the administration of any of those Acts is to be read as a reference to the Minister of Finance.

• Marginal note:Newfoundland and Labrador regulations

  (3.1) The following regulations apply for the purposes of subsection (3):

  • (a) any regulations made under the Consumption Tax Acts; and

  • (b) any regulations made under section 107, 108, 111, 112 or 114 of the Revenue Administration Act, S.N.L. 2009, c. R-15.01, as that Act is amended from time to time.

• Marginal note:Binding on certain entities

  (4) This section is binding on

  • (a) the corporations mentioned in Schedule I to the Federal-Provincial Fiscal Arrangements Act, if Newfoundland and Labrador is a participating province as defined in subsection 31(1) of that Act; and

  • (b) the corporations mentioned in Schedule II to that Act.