Business

Wheaton Precious Metals Reaches Settlement on Canadian Tax Dispute Regarding Foreign Income

Wheaton Precious Metals Reaches Settlement on Canadian Tax Dispute Regarding Foreign Incom...

articleWheaton Precious Metals CorpDecember 13, 20185/company/wheaton-precious-metals-corp/news/wheaton-precious-metals-reaches-settlement-on-canadian-tax-dispute-regarding-foreign-income
Wheaton Precious Metals Reaches Settlement on Canadian Tax Dispute Regarding Foreign Income

About this update from Wheaton Precious Metals Corp

[{"type":"text","content":"\n\n\n\nWheaton Precious Metals Reaches Settlement on Canadian Tax Dispute Regarding Foreign Income\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.prngen3{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen1{\nBORDER-TOP:0pt; BORDER-RIGHT:0pt; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt; BORDER-LEFT:0pt\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnml40{\nMARGIN-LEFT:3.33em\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Dec. 13, 2018\n\n\n\nTSX: WPMNYSE: WPM\n VANCOUVER, Dec. 13, 2018 /CNW/ - Wheaton Precious Metals™ Corp. (\"Wheaton\" or the \"Company\") is very pleased to announce that it has reached a settlement with the Canada Revenue Agency (\"CRA\") which provides for a final resolution of Wheaton's tax appeal in connection with the reassessment under transfer pricing rules of the 2005 to 2010 taxation years (the \"Reassessments\") related to income generated by the Company's wholly-owned foreign subsidiaries (\"Wheaton International\") outside of Canada. \nSETTLEMENT HIGHLIGHTS\nForeign income on earnings generated by Wheaton International will not be subject to tax in Canada.1 The service fee charged by Wheaton for the services provided to Wheaton International will be adjusted to: include capital-raising costs associated with Wheaton for the purpose of funding streaming transactions entered into by Wheaton International; and increase the mark-up applied to Wheaton's cost of providing services to Wheaton International, including the above capital-raising costs, from the current 20% to 30%.This additional service fee will result in increased income generated by Wheaton in Canada that is subject to Canadian tax.\nTransfer pricing penalties in the Reassessments will be reversed. Interest will be adjusted consequentially to the adjustments described above, subject to some minor adjustment...

More updates from Wheaton Precious Metals Corp