New Mandatory or Preventive Disclosure Form
The new form TP-1079.DI-V, Mandatory or Preventive Disclosure of Tax Planning, must be completed by taxpayers who are required to make a mandatory disclosure or who elect to make a preventive disclosure of a transaction or a series of transactions that they have carried out. Upon receipt of a disclosure form, Revenu Québec sends the taxpayer an acknowledgement of receipt.
A taxpayer who files, by the prescribed deadline, a duly completed disclosure form pertaining to a transaction to which the general anti-avoidance rule applies can avoid:
- an extension of the time limit for making a reassessment
- penalties with respect to the transaction disclosed
For more information, you may refer to the explanations given at the beginning of form TP-1079.DI-V, our Aggressive Tax Planning pages, and information bulletins 2009-5 and 2010-4 published by the Ministère des Finances.