Saskatoon-based Cameco wins back $300M in court battle with Canada's tax collector
Following a series of court decisions, Cameco says it will be getting a refund worth roughly $300 million from the Canada Revenue Agency (CRA).
The move by CRA comes after the courts ruled "unequivocally in Cameco’s favour for the 2003, 2005 and 2006 tax years," the Saskatoon-based uranium company said in a news release.
The rulings found that the money earned by Cameco's foreign subsidiary from the sale of non-Canadian uranium was not taxable in Canada.
While the uranium firm calls the refund a "positive" development, it says its "broader tax dispute with CRA remains ongoing."
Cameco claims CRA is holding on to $480 million in cash and letters of credit that the company believes it is owed.
The company said the money that it claims is still owed by CRA amounts to "a significant portion of [its] financial capacity."
CTVNews.ca Top Stories
Fluid in eye cells can 'boil' if you watch the eclipse without protection: expert
Millions of people in parts of Eastern and Atlantic Canada will be able to see the rare solar eclipse happening on April 8. But they should only look up if they have proper eye protection, experts say.
He didn't trust police but sought their help anyway. Two days later, he was dead
Jameek Lowery was among more than 330 Black people who died after police stopped them with tactics that aren’t supposed to be deadly, like physical restraint and use of stun guns, The Associated Press found.
CRA no longer requiring 'bare trust' reporting in 2023 tax return
The Canada Revenue Agency announced Thursday it will not require 'bare trust' reporting from Canadians that it introduced for the 2024 tax season, just four days before the April 2 deadline.
Being harassed at work? What to consider when deciding what to do next
If you've been the victim of workplace harassment, it can be difficult to feel you're not alone - and even more difficult to know where to go with a complaint.
Sunshine list: These were the Ontario public sector's highest earners in 2023
Ontario released its annual sunshine list Thursday afternoon, noting that the largest year-over-year increases were in hospitals, municipalities, and post-secondary sectors.
Grandparent scam: London, Ont., senior beats fraudsters not once, but twice
It was a typical Tuesday for Mabel Beharrell, 84, until she got the call that would turn her world upside down. Her teenaged grandson was in trouble and needed her help.
Half of Canadians support TikTok ban, with U.S. concerns 'trickling' north: poll
A new poll indicates 51 per cent of Canadians support banning the social media app TikTok, after a U.S. bill aiming to do just that passed in the House of Representatives.
Where is the worst place for allergy sufferers in Canada?
The spring allergy season has started early in many parts of Canada, with high levels of pollen in some cities already. Experts weigh in on which areas have it worse so far this season.
More unauthorized products for skin, sexual enhancement, recalled: Here are the recalls of this week
Health Canada and the Canadian Food Inspection Agency recalled various items this week, including torches, beef biltong and unauthorized products related to skin care and sexual enhancement.