Saskatoon-based uranium producer Cameco Corp. is celebrating another win in a drawn-out legal dispute with the Canada Revenue Agency (CRA). It all began 13 years ago when the CRA reassessed Cameco for $2 billion in unpaid taxes and penalties over multiple tax years for alleged offshore “profit shifting.” The federal agency has since failed successive attempts to make that case in court. The Supreme Court of Canada denied the CRA’s request for leave to appeal a June 26, 2020 decision by the Federal Court of Appeal last Thursday, upholding a Sept. 2018 ruling by the Tax Court of Canada in Cameco’s favour. Cameco’s marketing and trading structure involving foreign subsidiaries, related transfer pricing for uranium sales and purchases were found to be in compliance with Canadian law for the 2003, 2005 and 2006 tax years while 2007 through 2014 remain disputed.