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Expanded Coverage: The CRA’s updated Voluntary Disclosures Program now covers all tax types, including income tax, GST/HST, luxury tax, digital services tax, underused housing tax, excise duties, and global minimum tax.
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Eligibility Requirements: Taxpayers qualify if disclosures are voluntary, concern periods at least one year overdue, provide complete documentation, and include full payment or arrangements before CRA initiates compliance actions or investigations.
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Relief Benefits: Unprompted disclosures receive 100% penalty relief, 75% interest relief, and no criminal referral, while prompted ones still benefit from full penalty relief, reduced interest, and protection against prosecution.
Source: GVC
Latest Posts in "Canada"
- Canada removing tariffs on certain US goods; Canadian business support measures announced
- Canada: Key Deadlines for Distributed Investment Plans Under GST/HST Rules by October 15, 2025
- Canada GST/HST Credit 2025: Key Payment Dates, Eligibility Criteria, and Important Updates
- Quebec Restaurants to Charge Taxable No-Show Fees Up to $10 Starting July 2025
- CRA Announces Updates to Voluntary Disclosures Program Effective October 1, 2025
