Canada Revenue Agency

Canada Revenue Agency

April 06, 2009 12:00 ET

When it Comes to Your Taxes, a Clean Slate Means a Clear Conscience

OTTAWA, ONTARIO--(Marketwire - April 6, 2009) - Did you fail to file an accurate tax return or not file at all, but should have? Take advantage of the Canada Revenue Agency's (CRA) Voluntary Disclosures Program and correct your tax information. By coming forward you may avoid being penalized, criminally investigated and prosecuted.

For the 2007-2008 fiscal year, the CRA processed approximately 8,400 disclosures for taxpayers who used the Voluntary Disclosures Program to get a second chance to comply with their tax obligations. Coming clean saved these taxpayers from an audit or a criminal investigation, which could have resulted in penalties, fines, and even jail time. These disclosures resulted in more than $373 million in assessed additional taxes.

By encouraging taxpayers to come forward and correct the information they filed with the CRA, the Voluntary Disclosures Program helps protect the tax base and puts all Canadians on a level playing field.

If you make a full disclosure before the CRA starts any compliance action or investigation, you may only have to pay the taxes owing plus interest, but not penalties or face prosecution.

For more information about how to come clean, see the Voluntary Disclosures Program at www.cra.gc.ca/voluntarydisclosures.

Contact Information

  • Canada Revenue Agency
    Noel Carisse
    Media Relations
    613-952-9184