MONTRÉAL, June 1, 2016 /CNW/ - Martin Tremblay, a former chartered accountant from Carignan, Quebec, today received a jail sentence of twelve months and was fined $415,801, and his company, Equinox Gestion Financière Inc., was fined $22,194. They pleaded guilty on April 18, 2016 to tax evasion charges before the Court of Quebec in Longueuil. In addition to these fines, Mr. Tremblay and his company will have to pay the full amount of tax owing, plus related interest and any penalties that apply.
A Canada Revenue Agency (CRA) investigation revealed that Martin Tremblay voluntarily contravened the Income Tax Act by failing to report a total of $1,648,608 on his 2005 to 2009 personal income tax returns. This unreported income came from accounting services rendered, funds appropriated from his company, and funds he embezzled from certain clients that were intended for, among others, tax payments or employee source deductions.
The CRA investigation also revealed that Equinox Gestion Financière Inc., a company specializing in accounting services and financial consulting, falsified its corporate income tax returns by failing to report revenues totaling $162,876 for tax years 2008 and 2009.
This information was obtained from the court records.
The overwhelming majority of Canadians pay their taxes in full and on time. To ensure the tax system is fair for everyone, the CRA makes sure that people who try to avoid paying taxes are held to account.
If you have ever made a tax mistake or omission, the CRA is offering you a second chance to make things right through its Voluntary Disclosures Program (VDP). If you make a valid disclosure before you become aware that the CRA is taking action against you, you may only have to pay the taxes owing plus interest. More information on the VDP can be found on the CRA's website at www.cra.gc.ca/voluntarydisclosures.
Additional information on convictions can be found on the Media page of the CRA Web site at www.cra.gc.ca/convictions.
SOURCE Agence du revenu du Canada
For further information: Julie Pronovost, Regional Spokesperson, Telephone: 514-283-2226