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Voluntary Disclosure? Why?




The Voluntary Disclosure Program (VDP) is specifically created for those individuals and companies who are not in good standing with the Canada revenue Agency (CRA) nor with the Quebec Revenue Agency (QRA).

Through this Program you can put your tax records in order and have peace of mind as well.

 

Who are those that may be interested in this Program ?

 

- those who have not filed a tax return or failed to report certain information.

- those who provided incomplete or inaccurate information.

 

Why benefit from this program ?

 

The Law provides for penalties and interest for:

- late filing of tax returns

- Gross negligence and voluntary false reporting

- late filing of certain reporting forms

These penalties may reach a very high rate, sometimes 50% of the Income tax due plus interest for late payment.

The VDP applies to all these cases, allows to avoid all these penalties and lighten or, maybe reverse, the interest. 

 

For more information, please visit the CRA website section or contact us immediatly! 

 

Johnny Ward, CPA, CGA

(514) 272-8058, ext 1

1525 mazurette, suite 208, Montréal, Québec, H4N 1G8