Voluntarily Disclose Non-Compliance with Canada’s Tax Laws
Relief from Financial Penalties and Interest
Relief from Criminal Investigation & Prosecution
Voluntarily Disclose Non-Compliance with Canada’s Tax Laws
Relief from Financial Penalties and Interest
Relief from Criminal Investigation & Prosecution
The Voluntary Disclosures Program (VDP) is a government program administered by the Canada Revenue Agency (CRA) and designed to help individuals and businesses come forward voluntarily to correct errors, omissions, or non-compliance with Canada’s tax laws. It provides taxpayers with an opportunity to fix their tax affairs while potentially benefiting from reduced penalties/interest and avoiding criminal prosecution.
If you’ve made some mistakes on your past tax returns, or failed to file them, the Voluntary Disclosures Program is your path to peace of mind.
1. Reduce Penalties/Interest: By disclosing your errors voluntarily, you may be eligible for reduced penalties and interest, potentially saving you significant amounts of money;
2. Avoid Criminal Prosecution: Participating in the VDP can protect you from criminal charges related to tax evasion; and
3. Peace of Mind: Correcting your tax affairs through the VDP offers peace of mind, knowing that you are in compliance with Canadian tax laws.
The VDP is open to a wide range of individuals and businesses, including:
1. Individuals: If you have unreported income, undisclosed foreign assets, or other tax-related issues, the VDP can help you correct your tax situation;
2. Corporations: Businesses can use the VDP to rectify corporate tax errors, unreported income, GST/HST mistakes or other tax issues; and
3. Estates and Trusts: Executors and trustees can take advantage of the program to resolve estate or trust-related tax matters.
To qualify for a VDP, there are several conditions that you must meet:
1. Voluntary: This means that the CRA cannot be after you for the information you are coming forward with;
2. Complete: You must disclose all tax non-compliance for the disclosure to be considered valid;
3. Penalty: The information you are disclosing must contain a penalty;
4. One Year Past Due: The disclosure must be related to tax years further back than one year; and
5. Payment: You must make a payment for the estimated amount of your disclosure or enter into a payment plan with CRA.
Our team of experienced tax professionals is dedicated to helping you navigate the VDP process with ease. We offer:
1. Expert Guidance: We have a deep understanding of Canadian tax laws and the VDP process;
2. Confidentiality: Your information is treated with the utmost confidentiality;
3. Success Record: We have a proven track record of successful VDP applications; and
4. Personalized Service: We tailor our approach to your unique situation, ensuring the best possible outcome.
Don’t let tax non-compliance weigh you down any longer. Take the first step towards compliance and peace of mind by contacting us today. Our team of Tax Lawyers is ready to assist you with navigating the Voluntary Disclosures Program.