International Fuel Tax Agreement IFTA

{
  "id": "MLC-T-INS-001900",
  "term": "International Fuel Tax Agreement IFTA",
  "field": "Insurance and risk management",
  "definition": "An agreement among U.S. states and Canadian provinces that simplifies the reporting of fuel use taxes by interstate motor carriers. Under IFTA, a carrier files a single quarterly fuel tax report with its base jurisdiction, which then distributes the taxes to other jurisdictions where fuel was consumed. This eliminates the need for separate filings in each jurisdiction traveled.",
  "url": "https://mlchart.com/terminology/insurance/international-fuel-tax-agreement-ifta/"
}