For disclosure files opened after December 31, 2009, CRA terminated its administrative practice under the voluntary disclosure program to allow an overall tax rate of 38% to be applied to money repatriated from outside Canada. Has there been a decrease in the number of voluntary disclosures involving the repatriation of funds from abroad since the "38% rule" was abolished? CRA responded:
In December 2008, CRA - Quebec Region changed its approach in accordance with national policy. In terms of program intake, we continue to see an increase in the number of disclosures received regarding foreign-source income.