The Voluntary Disclosure Program, commonly referred to as VDP, tax amnesty or tax pardon, is a fantastic program offered by the Canada Revenue Agency (CRA) which allows taxpayers to come forward without fear of penalty or criminal prosecution. The program exists for taxpayers, both individuals and corporations, to correct their affairs with CRA. There are many situations in which this program is utilized. Below we will discuss some of the common reasons that taxpayers come to us to apply for the Voluntary Disclosure Program.
Incorrect income or expenses
Unfiled GST/HST returns
Unfiled personal tax returns
Unfiled corporation tax returns
Understanding this VDP complex program can be daunting to say the least. Most accounting firms either do not feel comfortable in dealing with the various government agencies/departments or do not have the expertise.
Our accounting firm is ready and willing to assist you with any voluntary disclosure. We will always serve you and have your needs at the forefront and assist you in protecting your rights and assets.
We will correspond with CRA on your behalf to ensure that you get the best outcome possible. We also represent you in meetings regarding VDP and other compliance issues with CRA staff, who are usually professional accountants and prefer to deal with CPA firms.
We believe that we can provide you with fair, logical, and reasonable advice with VDP matters and reduce your stress considerably.
We believe that a CPA firm is the best organization to deal directly with the CRA. It is a known fact that CRA’s staff consists mainly of accountants and they naturally prefer to deal with professional accountants. We strongly believe that our expertise will be extremely beneficial to you and your business.
Our Toronto CPA office will ensure that we represent you fairly with CRA.