IFTA (International Fuel Tax Agreement) and IRP (International Registration Plan) is a requirement for truckers driving Interstate vehicles as mandated by ISTEA 1991. Reporting is a big deal especially if you see some of the assessments for carriers that are not paying attention to proper record-keeping and accounting for all their miles traveled as they should be.
The benefits of IFTA and IRP Registration are:
- One fuel use license to operate in both the provinces and states
- One province or state to deal with for the IFTA license and to report motor fuel taxes
- One province or state that collects the motor fuel taxes from you and distributes the taxes to all IFTA provinces and states
IFTA and IRP are mandated to audit 3% of all registrants annually. For more information, read my article on What you need to know about IRP / IFTA.