Changes to fuel wholesaler reporting and how fuel retailers can buy fuel: tax bulletin 5115
How fuel wholesalers need to report their fuel inventories based on the amount of fuel they own. And how fuel retailers need to purchase fuel from wholesalers.
This tax information bulletin provides information on changes to the Revenue Act Regulations to help reduce the administrative burden on fuel wholesalers and fuel retailers.
- requirement for fuel wholesalers to report fuel by ownership rather than possession
- removal of the requirement for a fuel wholesaler to designate a retail vendor as a “sub-agent”
- requirement for fuel retailers to purchase fuel from fuel wholesalers
Author: Provincial Tax Commission
Department: Service Nova Scotia