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Cameco wins over tax dispute with CRA at the High Court
The Supreme Court of Canada has dismissed a tax case against Cameco, brought on by the Canada Revenue Agency.
The CRA was disputing the 2003, 2005 and 2006 tax years. “We have consistently followed the rules and complied with both the letter and intent of the law. This was confirmed unequivocally through the court process, and we are happy to have these three tax years concluded in our favour,” said Cameco President and CEO Tim Gitzel.
In September 2018, the Tax Court of Canada ruled that Cameco’s marketing and trading structure involving foreign subsidiaries, as well as the related transfer pricing methodology used for certain intercompany uranium sales and purchasing agreements, were in full compliance with Canadian law for the tax years in question.
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