(April 18 – 15:40 ET) – The Canada Customs and Revenue Agency has designed several programs to encourage voluntary compliance. There will be no penalties or prosecution if the disclosure is complete and the person discloses the information before the CCRA starts an audit, investigation, collection, or other enforcement action.
Voluntary compliance is accomplished by providing information and help to people to make sure they understand their rights and obligations. “We are always looking for ways to make it easier to comply with laws, and identify areas of non-compliance, so that everyone pays their fair share of tax,” says the CCRA in a press release.
“Through our Voluntary Disclosures Program, people are encouraged to correct any omissions in their past dealings with the CCRA. This includes people who have never filed, and/or who have stopped filing income tax returns or goods and services tax/harmonized sales tax returns, or people who have sent incomplete returns.”
People making voluntary disclosures will only have to pay what they owe plus interest.
-IE Staff