New voluntary disclosure rules have just been announced by the Canada Customs and Revenue Agency. A taxpayer who makes a voluntary disclosure of a Canadian income tax liability will not be charged penalties. The new policies also now allow for a cancellation of interest in some cases.
Disclaimer:
"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."
