Enrico Pucci fined $12,500 for not following tax laws

NEWS RELEASE

CANADA REVENUE AGENCY

***************************** Fined $12,500 for not following tax laws

SAULT STE. MARIE - (November 20) - On October 30, 2009, Enrico Pucci of Sault Ste. Marie, pleaded guilty in the Ontario Court of Justice in Sault Ste. Marie to four counts of failing to file income tax returns and one count of failing to provide books and records.

Pucci, as director of Piemonte General Contractors Limited, pleaded guilty to not filing corporate income tax returns for 2005 and 2006 and GST returns for the periods of January 1, 2005, to September 30, 2007. 

He also failed to provide books and records for the period beginning January 1, 2005, to November 30, 2007. 

He was fined $2,500 per count for a total of $12,500.

In addition to the fines imposed by the courts, individuals or corporations 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 Canada Revenue Agency (CRA).

Individuals 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 will not be penalized or prosecuted if they make a full disclosure before the Agency starts any action or investigation against them.

These individuals 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 website.

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