A chartered accountant and former vice president of finance and administration for a London-area tool and mold company pleaded guilty to three counts of tax evasion in an Ontario Court of Justice in London and will face a fine to the tune of $80,000. Rob Roy McGregor of London, Ontario, failed to report a total of $475,251 in taxable income and, thus, was able to avoid paying $136,931 in federal income taxes.
"Canadian taxpayers must have confidence in the fairness of the tax system," said Vince Pranjivan, Deputy Assistant Commissioner of the Ontario Region of the CRA. "To maintain that confidence, the CRA is determined to hold tax evaders accountable for their actions."
According to Canadian law, McGregor will be required to pay the full amount of taxes owed, plus interest and any civil penalties that may be assessed by the CRA. The court also reserves the right to fine McGregor up to 200% of the taxes evaded and impose a jail sentence of up to five years. Should McGregor have become aware of his mistake and disclosed it to the Canadian Revenue Agency prior to their action against him, he may have only been required to pay taxes owed, plus interest.