PVAT definition

PVAT in respect of a participating province, means the provincial component of tax payable under Part IX of the Excise Tax Act that is imposed, in addition to the CVAT, in respect of the participating province; and
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Examples of PVAT in a sentence

  • The Parties agree to co-operate fully in exchanging such information regarding the PVAT in respect of the Province as may be disclosed pursuant to applicable laws and regulations.

  • Tax revenue consists of the aggregate of the adjusted net tax payable in respect of the CVAT and the PVAT less specified refunds and rebates.

  • Furthermore, the determination of tax revenue takes into account all amounts reported as CVAT and PVAT.

  • The Province agrees that the tax base for the PVAT in respect of the Province must remain common with the tax base for the CVAT in order to maintain a harmonized tax base between the CVAT and the PVAT in respect of the Province.

  • The annual revenue entitlement of a province out of tax revenue is determined under Part IV and is based on a share which is a function of the PVAT rate, the CVAT rate, national and provincial economic data provided by Statistics Canada, administrative data provided by the Canada Revenue Agency and the Canada Border Services Agency, and other data sources determined by Finance (Canada).

  • The revenues in respect of the Province will consist of PVAT revenues in respect of the Province, determined in accordance with Annex “A”.

  • The Parties agree that the PVAT Rate in respect of the Province will be 7% as of the Implementation Date.

  • The categories of information subject to automatic exchange shall be determined by the Specialised Committee in accordance with Article PVAT.

  • The PVAT Rate in respect of the Province may, subject to the other provisions of this Agreement, be increased, or decreased, in accordance with the provisions of this Agreement, after a minimum period of two years from the Implementation Date of the PVAT in respect of the Province.

  • Following that two-year period, any change in the PVAT Rate in respect of the Province, as permitted under the provisions of this Agreement, will not occur more often than once in any twelve-month period.