Article: Cameco, CRA tax dispute to go to court in Sept 2016

“The CRA was questioning Cameco’s practise of selling uranium at a low fixed price to its European subsidiary, which then sold the product at a higher world price, resulting in more profits being booked in Europe than Canada. This dated back to 1999, when Cameco opened Swiss-based Cameco Europe, which had a more favourable tax regime.

Cameco expected the proceedings, which would start in the week of September 26, 2016, to conclude within four months. Should this timing be adhered to, it expected to receive a Tax Court decision within 6 to 18 months after the trial was completed.”

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