About the Department

Mandate

The Department of Finance is responsible for matters related to the fiscal, economic and statistical policy of the Government, primarily through the provision of analysis and advice to Cabinet, Committees of Cabinet, government departments and agencies, boards and commissions. The department is responsible for the development and oversight of the annual provincial budget, the administration of provincial tax statutes, management of provincial borrowing and debt, project analysis, economic and fiscal forecasting, negotiation of federal transfers, and representing the province on national fiscal, economic and statistical matters.

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Lines of Business:

The primary lines of business of the Department of Finance are as follows:

  • Supporting government’s provincial revenue and expenditure planning processes;
  • Providing analysis of the financial and economic impact of major projects;
  • Analyzing and forecasting the macroeconomic environment;
  • Conducting statistical research, analysis and data development;
  • Management of the province’s borrowing and debt servicing programs, including cash management and the investment of sinking fund assets; and
  • Administering, auditing and collecting various provincial taxes; administering various provincial taxation rebates and credits.

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Service Level Standards

The Department of Finance is committed to providing services to its clients according to defined service level standards and regularly measures whether or not these commitments are being met.

Our Shared Responsibilities

Performing within the Service Level Standards is a shared responsibility between the Department of Finance and its clients. Our Service Level Standards are based on receiving all required information from clients.

Services

Tax Clearance Certificates

Description of Service A tax clearance certificate, issued by the Department of Finance, is required prior to the distribution of assets. Certificates ensure no liens associated with provincially administered taxes exist as of the date the certificate is issued. Tax clearance certificates are issued to individuals and businesses.
Service Standard Tax Clearance Certificates for Individuals:
Tax clearance certificate requests for individuals will be processed and issued immediately through the tax clearance online system.Clearance Certificates for Businesses:
Tax clearance certificate requests for businesses will be processed and issued within 9 calendar days through the tax clearance online system.

Business Taxation Refunds

Description of Service Clients of the various business taxation programs (Carbon Tax, Health and Post-Secondary Education Tax, Gasoline Tax, Tobacco Tax, Insurance Companies Tax, Mining and Mineral Rights Tax, Pari-mutuel Tax, Retail Sales Tax on Insurance Premiums and Used Vehicle Purchases – other than from an HST Registrant, Utilities and Cable Television Tax, and Vapour Products Tax) may request refunds of overpayments from the Department of Finance within three years of the date the overpayment occurred in accordance with the legislation.
Service Standard Upon receiving a completed application for refund of a taxation overpayment, the Department of Finance will issue refunds within 60 calendar days to applicants that qualify under the Revenue Administration Act.

Labrador Border Zone Tobacco Tax Rebate

Description of Service A reduced rate of tax applies to cigarettes and fine cut tobacco sold by retailers to consumers in Labrador West (Labrador City and Wabush) and Southern Labrador (from the Quebec border to and including the community of Red Bay). The reduced rates are provided by way of a rebate of tax paid by retailers in these communities. Retailers pay taxes on eligible tobacco products purchased from wholesalers at the higher general tax rate, but sell to consumers in these areas at the reduced tax rate. As a result, retailers apply to the Department of Finance for a rebate of the difference between the general rates and the Labrador border zone rates.
Service Standard Upon receiving a fully completed application, including all required supporting documentation for the Labrador Border Zone Tobacco Tax Rebate, the Department of Finance will process the application and issue payment within 25 calendar days of receiving it from the retailer.

Questions

For questions or concerns regarding the service provided or the decisions made, please call (709) 729-3166 or email finance@gov.nl.ca

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