Petroleum and Gas Revenue Tax Act — P-12 14
By whom payable 14 (1) Every person who has production revenue shall pay the tax required by this Part to be paid thereon. Corporations, when payable (2) Every corporation, commission and association shall, during the period commencing on the first day of a taxation year and ending two months after the end of the year, pay, in accordance with one of the following paragraphs, to the Receiver General: (a) on or before the last day of each month in the year, an amount equal to one-twelfth of the amount, if any, by which the amount estimated by it to be the tax payable on its production revenue for the year exceeds the aggregate of all amounts each of which is the amount, if any, estimated by it to be deductible from its tax otherwise payable for the year under subsection 9(5) or 10(1) or (7), (b) on or before the last day of each month in the year, an amount equal to one-twelfth of its first instalment base for the year, or (c) on or before the last day of each of the first two months in the year, an amount equal to one-twelfth of its second instalment base for the year, and on or before the last day of each other month in the year, an amount equal to one-tenth of the amount remaining after deducting the amount computed pursuant to this paragraph in respect of the first two months in the year from its first instalment base for the year, and shall, on or before the last day of the period, pay to the Receiver General the remainder of the amount, if any, by which the amount estimated by it to be the tax payable on its production revenue for the year exceeds the aggregate of all amounts each of which is the amount, if any, estimated by it to be deductible from its tax otherwise payable for the year under subsection 9(5) or 10(1) or (7). (3) [Repealed, R.S., 1985, c. 2 (2nd Supp.), s. 10] Individuals, when payable (4) Every individual other than a trust, shall pay to the Receiver General (a) on or before March 31, June 30, September 30 and December 31, in each taxation year, an amount equal to one-fourth of (i) the amount, if any, by which the amount estimated by the individual to be the tax payable under this Part by that individual for the year exceeds the amount estimated by him to be deductible from his tax otherwise payable for the year under subsection 9(5), or (ii) his instalment base for the year; and (b) on or before the day on which that individual is required to file a return of production revenue for the year, the remainder of the amount, if any, by which the amount estimated by that individual to be the tax payable under this Part by him for the year exceeds the amount estimated by him to be deductible from his tax otherwise payable for the year under subsection 9(5). Where individual a trust (5) Every individual that is a trust shall pay to the Receiver General (a) on or before the last day of each of the third month, the sixth month, the ninth month and the twelfth month of each taxation year, an amount equal to one-fourth of (i) the amount, if any, by which the amount estimated by it to be the tax payable on its production revenue for the year exceeds the amount estimated by it to be deductible from its tax otherwise payable for the year under subsection 9(5), or (ii) its instalment base for the year; and (b) on or before the day on which it is required to file a return of production revenue for the year, the remainder of the amount, if any, by which the amount estimated by it to be the tax payable on its production revenue for the year exceeds the amount estimated by it to be deductible from its tax otherwise payable for the year under subsection 9(5). Tax to be paid on assessment (6) Every taxpayer shall, within thirty days after the day of mailing to the taxpayer of a notice of assessment, pay to the Receiver General any part of the assessed tax, interest and penalties then remaining unpaid, whether or not an objection to or appeal from the assessment is outstanding. Direction to pay forthwith (7) Where, in the opin