Implementation Date Of New Voluntary Disclosures Program Postponed

December 13, 2017


The Canada Revenue Agency (CRA) has undertaken a review of the Voluntary Disclosures Program (VDP) that resulted in significant changes being proposed with an effective date of January 1, 2018. The changes are designed to “tighten up” the VDP and were released in June 2017, followed by a 60-day consultation period. If you would like more information on the details of these proposals, please read our article titled “Voluntary Disclosures Program Consultations”.

On December 15, 2017, the CRA announced that the effective date for the start of the new process will be March 1, 2018. Consequently, in order to qualify for the less restrictive current process, the CRA must receive the taxpayer’s application on or before February 28, 2018.

Consult with your BDO tax advisor for further details.

The information in this publication is current as of December 15, 2017.

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