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Silver Wheaton provides update on CRA dispute
Silver Wheaton provides update on CRA dispute Silver Wheaton provides update on CR...
About this update from Wheaton Precious Metals Corp
[{"type":"text","content":"\n\n\n\nSilver Wheaton provides update on CRA dispute\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nSilver Wheaton provides update on CRA dispute\nCanada NewsWire\nVANCOUVER, Jan. 19, 2016\n\n\n\nTSX:SLWNYSE:SLW\n\n\n\nVANCOUVER, Jan. 19, 2016 /CNW/ - Silver Wheaton Corp. (\"Silver Wheaton\" or the \"Company\") (TSX:SLW) (NYSE:SLW) is providing an update on certain matters relating to the ongoing dispute with the Canada Revenue Agency (the \"CRA\").  \n\nOn January 8, 2016, Silver Wheaton filed a Notice of Appeal with the Tax Court of Canada, electing to pursue resolution of the matters relating to the Notices of Reassessment issued by the CRA for the 2005-2010 taxation years through a judicial court process rather than continue to pursue the CRA's internal appeals process. This decision was made in accordance with Silver Wheaton's right to appeal directly to the Tax Court of Canada 91 days after the date of filing a notice of objection. \n\n\"We remain confident in, and we intend to vigorously defend, our business structure. We believe that we have complied with Canadian tax law and feel that the court process, rather than the CRA appeals process, will provide the most expeditious avenue for the resolution of this matter,\" said Randy Smallwood, President and Chief Executive Officer of Silver Wheaton. \"Through this entire process, we continue to believe in the strong underlying value of our shares and continue to be active under our normal course issuer bid program in buying back our shares,\" he added.\n\nOn January 19, 2016, subsequent to filing the Notice of Appeal, Silver Wheaton received correspondence advising that the CRA would be commencing an audit of the Company's international transactions covering the 2011-2013 taxation years. \n\nIt is important to note that the correspondence received is not a proposal or notice of reassessment and the Company is not in a position to determine what, if any, position the CRA will take in respect of the 2011-2013 taxation years. However, if the CRA were to take a position similar to that underlying the Notices o...