What is the Voluntary Disclosure Program

Описание: The VDP is a program that taxpayers in Canada can apply to. The VDP grants relief to taxpayers who voluntarily come forward to fix any tax filing errors before the CRA finds out. The program is designed to encourage honesty and good faith for all taxpayers. As a result of coming forward, taxpayers will be granted prosecution relief, penalty relief, and partial interest relief if their application is accepted by the CRA. Applications are open to a wide range of taxpayers who wish to correct a tax situation. Some of the more common reasons for applying to the program are:

1. If a tax return for a previous year was not filed; or

2. If income was not reported on a tax return that has already been filed; or

3. If expenses were claimed on a tax return that was not eligible; or

4. If employee source deductions were not submitted

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