Cameco Pleased as Federal Court of Appeal Unanimously Upholds Tax Court Decision [Canadian Business Journal (Canada)]
Cameco Corporation (CCJ)
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Source: Canadian Business Journal
SASKATOON, Saskatchewan, June 26, 2020 (GLOBE NEWSWIRE) —Cameco“We are very pleased that the Court of Appeal has unanimously upheld the Tax Court’s clear and decisive ruling in our favour,” said Cameco president and CEO Tim Gitzel. “Four judges have now found that Cameco complied with both the letter and intent of the law. We followed the rules, yet this 12-year dispute has caused significant uncertainty for our company and our stakeholders at a time when we have been navigating through some of the most challenging global market and economic conditions we have ever faced.”The September 2018 ruling from the Tax Court found 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, are in full compliance with Canadian laws for the tax years in question. CRA appealed this decision to the Court of Appeal on October 26, 2018.On April 30, 2019, a subs
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