What is accepted under the Voluntary Disclosure Program (VDP)?
The following are circumstances under which Voluntary Disclosure Program (VDP) relief may be granted:
- failed to fulfill your obligations under the applicable act;
- failed to report any taxable income you received;
- claimed ineligible expenses on your tax return;
- did not remit your employees’ source deductions;
- did not report an amount of GST/HST (which may include undisclosed liabilities or improperly claimed refunds or rebates, unpaid tax or net tax from a previous reporting period);
- did not file information returns; or
- did not report foreign-sourced income that is taxable in Canada.
The list of FAQ was provided by Proccounting Inc, a firm that helps many Canadians solve their tax problems.