British Columbia IFTA Information
Trucking Office – British Columbia IFTA Information
British Columbia is located in the western portion of Canada, between the Rocky Mountains and the Pacific Ocean. With a population of approximately 4.8 billion, it is the third most populous province in Canada. The diverse economy in this province is dominated by service-producing industries. Currently, there is a one-time registration fee of $300 for new IFTA applicants and a $100 annual renewal fee.
If you are new to the trucking industry, you probably have many questions about what to expect on the road, what does IFTA stand for in trucking, and how the IFTA British Columbia requirements apply to your business.
What Is the IFTA and How Does it Affect You?
The International Fuel Tax Agreement was created in a joint effort by the United States and Canada to help simplify the process of fuel tax reporting and distribution. Under this agreement, motor carriers benefit significantly because they only need to file one fuel use tax report each quarter. The forms are submitted to your base jurisdiction, which is responsible for collecting and distributing the revenues or refunds. The IFTA license has the added benefit of allowing drivers to travel among all participating jurisdictions.
Requirements for IFTA British Columbia Licensing
You can declare British Columbia as your base jurisdiction and apply for an IFTA license if you meet these criteria:
- Your business is based in British Columbia, and all operational controls and records are maintained in the province and can be made available as needed.
- You operate a qualified motor vehicle and accrue mileage on British Columbia roadways and at least one other participating jurisdiction.
A qualified motor vehicle is defined as one that has:
- Two axles and a GVW or registered weight exceeding 26,000 pounds
- Three or more axles regardless of weight
- Has two or more axles used in a combination that has a GVW or registered weight that exceeds 26,000 pounds.
Some vehicles are exempt from IFTA licensing. More information can be found here.
What are the Requirements for Filing IFTA Reports?
Each carrier is required to maintain detailed records, such as trip reports for each jurisdiction, and keep all receipts that pertain to fuel purchases. These records are used to compute the quarterly IFTA fuel use tax reports.
The IFTA quarterly due dates are as follows:
Quarterly IFTA Due Dates
|Q1 January – March||April 30|
|Q2 April – June||July 31|
|Q3 July – September||October 31|
|Q4 October – December||January 31|
Delinquency can cost you 10% of the total taxes owed, or $50, whichever is greater. Late filing or non-payment can also interfere with or prevent the renewal of your license.
Renewing Your British Columbia IFTA License
If you have been approved for an IFTA license, you must follow some specific procedures:
- Renew the license every year before December 31st. You should submit the renewal application before November 30th to avoid any delays.
- Stickers (IFTA decals) should be permanently displayed on each side of the cab’s exterior.
- File and pay your IFTA quarterly taxes on time. Your license won’t be renewed if you owe taxes or are late filing.
- Keep a copy of your IFTA license inside the cab at all times.
- If IFTA decals or permits are lost, stolen, or destroyed, be sure to replace them right away.
This is a lot of information to remember, but don’t despair. There is an easier way to keep track of all aspects of your trucking business.
How TruckingOffice Can Help
TruckingOffice is a unique software program that was designed by our team of experts to help truckers manage the administrative side of their business. Our goal is to help you save time and money and maintain IFTA compliance. If you would like to enjoy the freedom of the open road without the hassles of paperwork, we can help.
TruckingOffice makes filing your quarterly IFTA easy by keeping all of your information in one place. We track everything you need for IFTA including miles by state and fuel gallons by state. Your miles are calculated automatically using PC*Miler. Start filing your IFTA the easy way today!