CRA Reminds Business Owners to Collect GST

CRA REMINDS BUSINESS OWNERS TO COLLECT GST

Source: Advisor.ca

In a release, CRA reminds that taxpayers convicted of GST evasion must still repay the full amount of taxes owing, plus interest and any civil penalties that may be assessed by the agency. In addition, the court may fine taxpayers up to 200% of the taxes evaded and impose a jail term of up to five years. If convicted of fraud under Section 380 of the Criminal Code, a taxpayer can face up to 14 years in jail.

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