Taxman looks to impose mandatory oaths, fines on those who lie to CRA
New measures were announced Friday, and are expected to be tabled once the House resumes Sept. 15
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Potential changes coming for Canada’s tax code include new measures to prevent those filing from lying to auditors.
In new draft amendments to the Income Tax Act tabled Friday, filers will be subject to a mandatory oaths under threat of perjury when submitting information to the Canada Revenue Agency (CRA). Anyone who misleads tax officials would subject to punishment and fines, reported Blacklock’s Reporter.
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The measures are expected to be formally tabled upon resumption of Parliament next month.
“These proposed amendments are intended to enhance the efficiency and effectiveness of tax audits and facilitate the collection of tax revenues on a timelier basis,” read a notice from the finance department.
The new measures would allow CRA to issue new non-compliance notices to those who haven’t complied with requests for information, with those issued such notices subject to $50-per-day fine, up to a maximum of $25,000.
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