Cameco to Defend Itself Against CRA Tax Dispute in Court in September 2016

Mining Weekly reported that Cameco (TSX:CCO;NYSE:CCJ) expects to defend itself in court in September against a tax dispute with the Canada Revenue Agency (CRA) about taxation for 2003, 2005 and 2006.
As quoted in the market news:

The CRA was questioning Cameco’s practise of selling uranium at a low fixed price to its European subsidiary, which then sold the product at a higher world price, resulting in more profits being booked in Europe than Canada.This dated back to 1999, when Cameco opened Swiss-based Cameco Europe, which had a more favourable tax regime.
Cameco expected the proceedings, which would start in the week of September 26, 2016, to conclude within four months. Should this timing be adhered to, it expected to receive a Tax Court decision within 6 to 18 months after the trial was completed.
For the years 2003 through 2009, the CRA had issued Cameco with notices of reassessment for about C$2.8-billion of additional income for Canadian tax purposes, which would result in a related tax expense of about C$820-million.

Click here to read the full Mining Weekly report.