Posted Thu, 09/19/2013 – 00:00
- Cameco Canada mines uranium and sells it to Cameco Switzerland at the 1999 price. The uranium never physically travels through Switzerland.
- Cameco Switzerland processes the paper to sell uranium at market price to customers around the world.
- The profits are recorded and taxes paid in Switzerland.
Saskatchewan may have missed out on $300 million in corporate tax
One of the largest companies in Saskatchewan is in the midst of a multi-million dollar tax court battle with Canada Revenue Agency (CRA).
Cameco has publicly estimated that it could end up owing $800-850 million in Canadian corporate taxes for the years 2008 to 2012, if it loses the case.