The Canada Revenue Agency (CRA) has extended the deadline for taxpayers to access the current Voluntary Disclosures Program (VDP). In order for a taxpayer to be eligible for the VDP relief outlined in Information Circular IC00-1R5, unintentional omissions in a prior return, the CRA must have received the taxpayer’s application, including their name, on or before February 28, 2018. Previously, the submission date was December 31, 2017. Note that, here taxpayers includes an individual, an employer, a corporation, a partnership, or a trust. Again, CRA has also announced that the information circular applies to VDP applications received on or after March 1, 2018 and supersedes Information Circular IC00-1R5, Voluntary Disclosures Program.
The Voluntary Disclosures Program (VDP) applies to disclosures relating to income tax, source deductions, excise duties under the Excise Act, 2001, excise tax and GST/HST under the Excise Tax Act, as well as charges under the Air Travelers Security Charge Act and Softwood Lumber Products Export Charge Act, 2006.
