The Truth about the CRA Voluntary Disclosure Program (VDP) that no one wants you to know

Much more benign that the IRS Voluntary disclosures – OVDP, etc.

inTAXicating

Before you waste time and money paying a “Tax Solution” company to walk you through the CRA’s Voluntary Disclosure Program (VDP), you need to read this post and learn the facts they don’t want you to know…

In order to “qualify” for the Voluntary Disclosure Program, there are some important facts which must be taken into consideration first;

  1. The disclosure must be voluntary, and by voluntary, the CRA means that the business or taxpayer must not be aware of or have knowledge of an audit, investigation or other enforcement action set to be conducted by the CRA, or initiated by the CRA, with respect to the information being disclosed.
  2. The disclosure must be complete, meaning that all information must be disclosed and all the outstanding years must be filed in this application.
  3. The disclosure must involve the application of a penalty, such as, but not limited to, Late Filing Penalties…

View original post 887 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s