Canada Tax: Indo-Canadian Businessman Fined For Not Filing Tax Returns
SURREY - An Indo-Canadian businessman has been fined by Canadian Revenue Agency for not filing his tax returns.
Tejbir Sidhu of Surrey pleaded guilty in Surrey Provincial Court on May 27 for failing to file his 2004 and 2005 personal income tax returns. In addition, Sidhu also pleaded guilty for failing to file the 2003 corporate income tax return and the 2008 goods and services tax (GST) return for his company, Infinity Labour Contractors Ltd.
Sidhu was fined $4,000 and given until November 30, 2021 to pay the fine. All returns have now been filed.
When people are convicted of failing to file tax returns, in addition to any fines imposed by the courts, they must still file the returns and pay the full amount of taxes owing, plus interest owed, as well as any civil penalties that may be assessed by the Canada Revenue Agency (CRA).
Individuals 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 will not be penalized or prosecuted if they make a full disclosure before the Agency starts any action or investigation against them. These individuals may only have to pay the taxes owing, plus interest.
More information on the Voluntary Disclosures Program can be found on the Canada Revenue Agency website.