Excise Act, 2001

Marginal note:Imposition of tax  —  2014 increase

• 58.2 (1) Subject to section 58.3, every person shall pay to Her Majesty a tax on all taxed cigarettes of the person held at the beginning of February 12, 2014 at the rate of $0.02015 per cigarette.

• Marginal note:Imposition of tax  — inflationary adjusted years

  (2) Subject to section 58.3, every person shall pay to Her Majesty a tax on all taxed cigarettes of the person held at the beginning of December 1 of an inflationary adjusted year at a rate per cigarette equal to

  • (a) in the case of cigarettes in respect of which duty has been imposed under section 42, the amount determined by the formula

    (A – B)/5

    where

    A

    is the rate of duty applicable under paragraph 1(b) of Schedule 1 for each five cigarettes on December 1 of the inflationary adjusted year, and

    B

    is the rate of duty applicable under section 1 of Schedule 1 for each five cigarettes on November 30 of the inflationary adjusted year; and

  • (b) in the case of cigarettes in respect of which duty has been imposed under section 53, the amount determined by the formula

    C – D

    where

    C

    is the rate of duty applicable under paragraph 1(a) of Schedule 3 per cigarette on December 1 of the inflationary adjusted year, and

    D

    is the rate of duty applicable under paragraph 1(a) of Schedule 3 per cigarette on November 30 of the inflationary adjusted year.

• Marginal note:Rounding

  (3) The amount determined under paragraph (2)(a) or (b) is to be rounded to the nearest one-hundred-thousandth or, if the amount is equidistant from two consecutive one-hundred-thousandths, to the higher one-hundred-thousandth.