Canada Tax Agency Announces Voluntary Disclosure Program for Taxpayers

The Canadian Revenue Agency Sept. 10 announced a voluntary disclosure program for taxpayers to correct errors or omissions in their tax obligations. Topics covered include: 1) the program’s inclusion of all tax types, including income tax, GST/HST, withholding taxes, excise duties, luxury tax, underused housing tax, digital services tax (DST), and global minimum tax; 2) that taxpayers can apply if the disclosure is voluntary, relates to a tax year at least one year past due, includes all supporting documents, and includes payment or payment arrangements for taxes owed; 3) benefits of the program, including penalty relief, interest relief, and no ...