A Richmond woman has been fined $2,000 for failing to file her tax returns and declaring assets.
Sadie Fung Chen was sentenced at Richmond Provincial Court last week after an investigation by the Canada Revenue Agency (CRA). Chen was fined after failing to file her 2009 personal tax return and also failing to file asset and liability schedules for the years 2005 to 2009.
As well as the fine, she was ordered to file the outstanding return and asset schedules, as well as pay the amount owing by April 1. Chen had earlier pled guilty on Sept. 12, 2013.
The CRA said it couldn't disclose the amount Chen owed in back taxes.
The CRA is warning people that, when 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 CRA.
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 action being initiated by the CRA against them. Such taxpayers may only have to pay the taxes owing, plus interest. Information on the Voluntary Disclosures Program (VDP) can be found on the CRA's Web site at www.cra.gc.ca/voluntarydisclosures.
