trending Market Intelligence /marketintelligence/en/news-insights/trending/ddnbueit5lhsmbj-l3d5xq2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

Cameco to face court over alleged C$2.2B tax evasion

Medical IoT Technology in US Hospitals Helps to Reduce Costs and Improve Care

Internet Traffic Spikes By One Third In March

How 37 Years of Default Data Can Prepare Us for the COVID-19 Fallout

COVID-19’s Impact on the Capital Markets: Identifier Issuance for Municipal Securities Sinks, but Corporate Requests Stable

Cameco to face court over alleged C$2.2B tax evasion

Canadian uranium heavyweight Cameco Corp. will front court Oct. 5 over allegations of tax evasion worth C$2.2 billion.

The Canadian Revenue Agency launched legal action because it believes Cameco was keeping the price of its uranium low and funneling profits through a Switzerland-based subsidiary to avoid paying tax, according to an Oct. 3 report by The Canadian Press.

However, Cameco is maintaining its innocence, saying it was a "legal and sound business practice," the news service reported.

The case, which has been ongoing since 2009, relates to the 2003, 2005 and 2006 financial years.

According to the report, the subsidiary was established in 1999, when Cameco struck a 17-year deal to sell uranium at about US$10 a pound, which was what it was trading at around that time.

The trial is not expected to conclude until March 2017, with the court likely to take between six and 18 months to reach a verdict.