A Holyrood man pleaded guilty Wednesday in provincial court in St. John’s for failing to file his 2009 and 2010 personal tax returns and was fined $2,000 on each of the charges for a total fine of $4,000.
The Canada Revenue Agency said in a news release today, Arthur J. Hickey is to pay the fine within 10 days and will need to file his 2009 and 2010 returns within 30 days.
The CRA says taxpayers who have not filed returns for previous years, or who have not reported all of their income, can still voluntarily correct their tax affairs. “They may not be penalized or prosecuted if they make a valid disclosure before they become aware of any compliance action being initiated by the CRA against them,” the CRA said in its release. “These taxpayers may only have to pay the taxes owing, plus interest.”
More information on the Voluntary Disclosures Program can be found on the CRA's website at www.cra.gc.ca/voluntarydisclosures.