Section 1 (2) (b) BEFORE amended by BC Reg 30/2022, effective February 15, 2022.
(b) when the person entitled to the refund has completed any procedures required of him at law to perfect his claim to the refund.
Section 4 (1), (2), (2.1) and (3) BEFORE amended by BC Reg 258/2023, effective January 1, 2023 [retro from December 4, 2023].
(1) Subject to subsection (2.1), where section 1 (1) (b) applies to an account, the government shall pay interest on the money it owes on that account calculated from the later of
(2) Subject to subsection (2.1), where section 1 (2) applies to an account, the government shall pay interest on the money it owes on that account calculated from the later of
(2.1) Where section 1 (1) (b) or (2) applies to money owed by the government to a carrier, as that term is defined in the Motor Fuel Tax Act, as a result of money paid or purportedly paid to the government under or in accordance with one or both of the Motor Fuel Tax Act and the International Fuel Tax Agreement, the government shall pay interest on that money calculated from the 91st day after the day that the government receives the overpayment or becomes obliged to refund the money, as the case may be.
(3) This section does not operate to require the payment of an amount of interest less than $5.
Section 4 (2.1) BEFORE amended by BC Reg 159/2024, effective June 21, 2024.
(2.1) If section 1 (1) (b) or (2) applies to money owed by the government to a carrier, as that term is defined in the Motor Fuel Tax Act, as a result of money paid or purportedly paid to the government under or in accordance with one or both of the Motor Fuel Tax Act and the International Fuel Tax Agreement, the government must pay interest on that money, calculated from the day set out in the International Fuel Tax Agreement, Article XI, R1150.
Section 6 (1.1) BEFORE amended by BC Reg 258/2023, effective January 1, 2023.
(1.1) The rate of interest payable for section 4 (2.1) shall, for each 3 month period beginning on January 1, April 1, July 1 and October 1 in every year, be 2% above the Canadian Federal Treasury Bill rate on the 15th day of the month immediately preceding that 3 month period.
Section 6 (1.1) BEFORE amended by BC Reg 159/2024, effective June 21, 2024.
(1.1) The rate of interest payable for section 4 (2.1) is the rate determined in accordance with the International Fuel Tax Agreement, Article XI, R1150.