Make Voluntary Disclosures Before March 2018 | KPMG | GLOBAL

Make Voluntary Disclosures Before March 2018

Make Voluntary Disclosures Before March 2018

The CRA has extended the deadline for taxpayers to access the current Voluntary Disclosures Program (VDP) before new restrictive changes take effect.

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​As a result, if you are considering making a voluntary disclosure for unintentional omissions in a prior return (income or GST/HST, source deductions and other indirect taxes), you will now have until February 28, 2018 to file under the current rules (instead of December 31, 2017). In addition to extending the deadline, the CRA has announced in the final VDP guidelines further changes to the limited VDP that will be effective as of March 1, 2018. Some of these further changes, which apply for both income tax and GST/HST and other indirect taxes, provide that the CRA will no longer allow no-name disclosures, among other things.

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