News and Insights

Alberta Finance Updates Voluntary Disclosure Program Information Circular

Tax Development Dec 14, 2018

Alberta Treasury Board and Finance has updated the Information Circular TRA-3, “Voluntary Disclosures” to highlight changes to the Alberta Voluntary Disclosure Program (“VDP”). The VDP applies to the province’s Climate Leadership Act, Fuel Tax Act, Tobacco Tax Act and Tourism Levy Act:

Effective December 1, 2018, an accepted VDP submission is eligible for penalty and partial interest relief. Potential penalty relief may include waiving of late filing or gross negligence penalties. Interest may also be reduced by 50% where it relates to the interest applicable to the period of the VDP beginning 12 months prior to the receipt date of the voluntary disclosure application.