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The Canada Revenue Agency charges $265m on penalties to Silver Wheaton Corp.

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Impact Of News On Stocks
Mon, Sep 28th, 2015

Silver Wheaton Corp. (NYSE:SLW) [Trend Analysis]

Silver Wheaton Corp. has 405.24 million outstanding shares with market capitalization of 5.03 Billion and its share price finished at $12.43 by moving down -0.80% in last traded session. Silver Wheaton receives notices of reassessment from the Canada Income Agency relating to its 2005 to 2010 taxation years. In issuing the reassessments, the CRA is looking for to raise Silver Wheaton’s income subject to tax in Canada for the Relevant Taxation Years by about $536 million which would result in federal and provincial tax of $151 million. In addition, the CRA is looking for to impose transfer pricing penalties of about $54 million and interest and other penalties of $60 million for the Relevant Taxation Years. Total tax, interest and penalties sought by the CRA for the Relevant Taxation Years is $265 million. As the returns are concern, return on equity was recorded 4.00% and firm surged its return on investment of 4.40% while its return on asset stayed at 3.20%.

By Abby Lee