CRA Voluntary Disclosure Program
Faris CPA, located in Toronto, helps individuals and corporations across Canada file unreported offshore income and portfolio investments under CRA’s Voluntary Disclosure Program (“VDP”). We can accommodate voluntary disclosures from the simple to the most complex, and will perform all necessary accounting work to file your Voluntary Disclosure application. All this at an affordable cost.
Call 1 844 340 5771 for an assessment with an experienced tax accountant.
Our experience and commitment is your peace of mind.
Unfiled taxes? Unreported Offshore Income?
As experienced certified, licensed, and expert tax accountants, we help our clients with all their tax issues. Voluntary disclosure (tax amnesty) applications are one of our specialties.
The CRA’s Voluntary Disclosure Program promotes compliance by urging you to come forward voluntarily and fix omissions in your previous dealings with the CRA. Taxpayers who submit a valid voluntary disclosure pay the principle taxes or charges, without the penalties or criminal prosecution that they would otherwise face. In some cases, the CRA may also waive interest charges.
We can help you to correct your tax issues with the Canada Revenue Agency under the Voluntary Disclosure Program. This can include:
- Unreported or under reported income from employment or business;
- Unreported capital gains;
- Errors made on a previously filed tax returns;
- Unreported foreign income that is taxable in Canada; and
- Ineligible expenses claimed on a tax return.
CRA’s VDP can cover both income taxes and GST/HST. The penalties for not disclosing unreported income can be extremely serious. Faris CPA may be able to help reduce your penalties to nil.
Read more about Voluntary Disclosure Program.
Call us today at for a Confidential Initial Assessment about any accounting or tax matters. As an experienced, certified, licensed, and expert tax accounting firm we help our clients handle all tax and accounting issues. Give us a call today at 1 844 340 5771.
What is the voluntary disclosure program?
The Voluntary Disclosure Program is a tax amnesty offered by CRA. The CRA’s Voluntary Disclosure Program promotes compliance by urging you to come forward voluntarily and fix omissions in your previous dealings with the CRA. Taxpayers who submit a valid voluntary disclosure pay the principle taxes or charges, without the penalties or criminal prosecution that they would otherwise face. In some cases, the CRA may also waive interest charges.
How can you help me correct my tax issues?
I can review your filed tax returns and advise if there are mistakes. If there are mistakes, I can recommend the approach.
Is income tax voluntary in Canada?
The income tax system is based on voluntary compliance because the government knows tax laws are unconstitutional and cannot be enforced. There is no question that voluntary compliance is the cornerstone of Canada’s self-assessment taxation system.
"Need someone who can talk CRA and walk tax law stuff? I did. After an expensive year of trying to resolve a CRA issue on my own - I was very happy to have Sam Faris in the ring with me. I am confident that no lawyer or CA could have prepared a stronger case report to support my appeal. Sam approached my case professionally and skillfully from all angles possible and personally made sure I understood exactly what was going on; every step of the way."