Canada Revenue Agency

Canada Revenue Agency

February 23, 2010 11:30 ET

Second Edition of the "Underground Economy - Not Your Problem?" Video Contest on Youtube

OTTAWA, ONTARIO--(Marketwire - Feb. 23, 2010) -

Editor's note: a video and a photo associated with this release are available on the Marketwire website.

The Canada Revenue Agency is proud to announce the launch of the 2010 Underground Economy - Not your Problem? video contest on YouTube. Following the success of last year's contest, the Canada Revenue Agency (CRA) is launching a second edition. Again this year, Canadians are invited to create a short video that focuses on the risks and impacts of participating in the underground economy.

In order to participate, the CRA invites Canadians to visit the CRA's YouTube channel to find out why the underground economy is a problem for all Canadians. Then create a video, and tell the CRA how the underground economy is a problem for Canadians and business. Videos can be submitted to the CRA's YouTube channel. The winner will be honoured with the 2010 CRA Independent Video Producer Award at a special screening to take place in Ottawa later this year.

In these difficult economic times, the government is increasing its efforts to address the underground economy and protect responsible taxpayers who comply with the tax laws. All Canadians are negatively affected by the underground economy and should take advantage of this opportunity to have their say.

Those who participate in the underground economy are avoiding their tax responsibilities at the expense of all Canadians. This places an unfair burden on law-abiding businesses and individuals by reducing the amount of money available for important government programs like health care, education, and the environment. The underground economy also undermines the competitiveness of businesses and individuals because it offers an unfair, illegal advantage to those who fail to comply with Canada's tax laws.

Consumers who indirectly support the underground economy by paying cash for a "cheaper deal" should also be aware of the risks they are taking by dealing with someone who is not operating legitimately, which includes not having any recourse for poor workmanship and being liable if someone is injured on the job.

The CRA is working with other federal departments, provincial and territorial governments, professional organizations, and key industry groups to identify, prevent, and take action on the underground economy.

Last year, the CRA opened a dialogue with Canadians by hosting a video contest, and the response was encouraging. The underground economy is a significant problem with serious consequences for taxpayers, businesses, and the Canadian economy.

The YouTube video contest will be open until May 30, 2010. Videos entered in the contest may be used in CRA outreach initiatives. For more information on the underground economy, guidelines for video submissions, and a link to the CRA's YouTube channel, go to www.cra.gc.ca/contest.

To see the photo associated with this release please click on the following links: http://www.marketwire.com/library/20100223-craa_0223.jpg

To see the video associated with this release please click on the following links: . http://www.youtube.com/canrevagency#p/c/3703C1C2CF3B98AF/0/LnzLLC0Gi6g

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