Newmarket, Ontario, August 7, 2012…The Canada Revenue Agency (CRA) announced today that on July 31, 2012, Mario De Acetis, company Director, pleaded guilty on behalf of Deatek Framing Inc., in the Ontario Court of Justice in Newmarket, to a total of two counts of failing to file tax returns. The company was fined $1,000 per count, for a total of $2,000. All outstanding returns have since been filed.

Mario De Acetis failed to file two annual company GST/HST returns for the periods ending May 31, 2002 and May 31, 2003.

The preceding information was obtained from the court records.

In addition to the fines imposed by the courts, individuals or corporations convicted of failing to file tax returns are still obligated to file the tax returns and pay the full amount of taxes owing, plus interest, 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 compliance action being initiated by the CRA against them. These taxpayers may only have to pay the taxes owing, plus interest. More information on the Voluntary Disclosures Program (VDP) can be found on the CRA’s Web site at www.cra.gc.ca/voluntarydisclosures.

Further information on convictions can also be found in the Media Room on the CRA website at www.cra.gc.ca/convictions.

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