A database of accommodations required to remit is held by each municipality on Cape Breton Island. A failure to remit on time may result in interest accumulated on overdue remittances. The interest charged to overdue remittances is 4% above the prime rate. Additionally, a failure to remit may also result in a municipal conviction. A first conviction includes a fine that falls between $500 - $1000 and a second subsequent conviction includes a fine that falls between $1500 and $5000.
You are required to maintain records of accounts and documents that can show sales of accommodation (exempt and non-exempt), levy collected and remittance. These records must be kept for 6 years and each municipality has the right to inspect or audit these records with written notice.