Fast facts about Canada's underground economy Lévis QC

• The underground economy refers to economic activity that is taxable, but isn't reported to tax authorities.

Altimum I M S
(514) 593-0865
8920 boul Pie-Ix, Montréal
Quebec, QC
 
7 Pouvoirs Inc
(418) 548-1587
3222 rue des Cassandres
Quebec, QC
 
Amalgama Acquisitions Partenariats
(514) 525-7676
276 rue Saint-Jacques, Montréal
Quebec, QC
 
Gestion Conseil P Mallette Inc
(450) 699-9840
328 Rue Concordia
Chateauguay, QC
 
Chevaliers De Colomb
(819) 762-1457
55 Avenue Dallaire
Rouyn-Noranda, QC
 
9146-0444 Québec Inc
(514) 393-0663
194 rue Dufresne, Saint-Jean-sur-Richelieu
Quebec, QC
 
Alarie Sylvie Fiscaliste
(514) 453-3993
1324 Bd Perrot, Notre-Dame-de-l'Île-Perrot
Quebec, QC
 
Cadets De L'Air
(819) 758-5455
36 Rue Sainte-Marie
Victoriaville, QC
 
Syndicat Producteur De Bois
(819) 762-0835
172 Avenue Du Lac
Rouyn-Noranda, QC
 
Credit Bail Cie
(819) 643-0550
167 DE Candiac
Gatineau, QC
 

Fast facts about Canada's underground economy

Provided By:

• The underground economy refers to economic activity that is taxable, but isn't reported to tax authorities.

• Certain sectors are more vulnerable to underground activity such as construction and hospitality.

• Taking cash to avoid paying tax is cheating. It's cheating Canadians who do pay their taxes, businesses that have to compete with lower prices, and customers and workers who may not be covered if disaster strikes.

• It's a myth that taking cash and keeping no records makes you immune to taxes. If your lifestyle is not in line with the income you report, and you cannot explain the difference, your taxes will be assessed anyway based on an estimate of your income. You might then have to pay interest, penalties and even face prosecution.

• Cheaters do get caught as the Canada Revenue Agency has an aggressive program to detect and deter those Canadians who do not report their income.

• The Agency has over 1,000 employees dedicated specifically to catching these underground operators. Once caught, cheaters can face prosecution, hefty fines, and jail time. If you want to do some homework on the issue, go to the Taxpayer Alert section of www.cra.gc.ca, and click on the Underground Economy link.

Credit: www.newscanada.com