| CRA to commence audit on Silver Wheaton's 2011-2013 taxation years | |
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Jan 19 (Reuters) - Silver streaming company Silver Wheaton said the Canada Revenue Agency (CRA) would commence an audit of the company's international transactions for the years 2011 to 2013. Earlier in July 2015, the CRA sought to tax the company's streaming income earned by its foreign units and said its taxable income should be increased by about C$715 million ($488.66 million) for the years 2005 to 2010. If CRA were to reassess 2011 to 2013 taxation years, their estimated taxes payable in Canada would further increase by about $310 million for this period, the company said. "The court process, rather than the CRA appeals process, will provide the most expeditious avenue for the resolution of this matter," said President and Chief Executive Officer of Silver Wheaton, Randy Smallwood. Timing of the court process for the 2005 to 2010 taxation years and audit of the 2011-2013 taxation years is uncertain, the company said. Taxation years post-2013 also remain open to audit by the CRA, the company added. ($1 = 1.4632 Canadian dollars) (Reporting by Sangameswaran S in Bengaluru; Editing by Sunil Nair)
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VanEck Vectors Global Alternative Energy ETF
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PRODUCER |
CODE : SLW.TO |
ISIN : CA8283361076 |
CUSIP : 828336107 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Silver Wheaton is based in Canada. Silver Wheaton produces silver, copper, gold, lead, silica and zinc in Canada, in Greece, in Mexico, in Peru, in Portugal and in Sweden, develops copper, gold, silver and zinc in Canada and in Chile, and holds various exploration projects in Argentina and in Portugal. Its main assets in production are ZINKGRUVAN in Sweden, KENO HILL (BELLEKENO) and MINTO MINE in Canada, SAN MARTIN - LUISMIN, PEÑASQUITO, LUISMIN and G-9 CAMPO MORADO in Mexico, YAULIYACU in Peru, STRATONI in Greece and NEVES-CORVO in Portugal, its main assets in development are PASCUA LAMA in Chile and KUTCHO CREEK in Canada and its main exploration properties are PROMOTORIO DURANGO and MONTOROS in Mexico, ALJUSTREL in Portugal and LOMA DE LA PLATA (NAVIDAD) in Argentina. Silver Wheaton is listed in Canada, in Germany and in United States of America. Its market capitalisation is 1.4 billions as of today (US$ 992.0 millions, € 902.8 millions). Its stock quote reached its lowest recent point on March 09, 2007 at 10.01, and its highest recent level on May 15, 2017 at 28.53. Silver Wheaton has 47 442 200 shares outstanding. |