Eastern Design Inc., an Appleton business, was fined $3,000 Tuesday in Gander provincial court on three charges of failing to file corporation income tax returns.
A news release notes that Eastern Design Inc. was convicted of failing to file corporation income tax returns for 2008, 2009, and 2010. The company was fined $1,000 on each charge for a total fine of $3,000.
The fine was paid and the missing returns have been filed.
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 Canada Revenue Agency (CRA) against them.
These taxpayers may only have to pay the taxes owing, plus interest. More information on the Voluntary Disclosures Program (VDP) can be found on the CRA's Web site at www.cra.gc.ca/voluntarydisclosures.