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What is the CRA’s Voluntary Disclosures Program?
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What is the CRA’s Voluntary Disclosures Program?
The Canada Revenue Agency (CRA) has had a program for many years for taxpayers to fix errors or omissions made on previous tax returns. The Voluntary Disclosures Program (VDP) grants relief from penalties, interest, and most importantly, criminal prosecution, albeit on a case-by-case basis. Tax owing still applies but “to be fair to all, the CRA grants a higher level of relief to those who are correcting an error before being contacted than tho…
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