January 03, 2008
CRA News Release: Resolve to correct your tax information
According to the CRA web site, "last year the CRA processed 8,244 disclosures for taxpayers who used the Voluntary Disclosures Program and got a second chance to comply with their tax obligations. Coming clean saved these taxpayers from an audit or a criminal investigation, which can result in penalties, fines, and even jail time. Their valid disclosures involved more than $525 million in taxes."
The CRA is advising Canadians to "Begin the New Year with a clean slate and a clear conscience!"
The Canada Revenue Agency's (CRA) Voluntary Disclosures Program allows people to come forward and correct their tax information and, thereby, avoid being penalized, criminally investigated and/or prosecuted.
For more information on this news release, visit the CRA web site at http://www.cra-arc.gc.ca/newsroom/releases/2008/jan/nr080103-e.html
Posted by Taxes.ca Editorial Team [permalink]
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