(Saskatoon) Cameco expects to receive a refund of about $300 million after the Canada Revenue Agency released revised assessments for its fiscal years from 2007 to 2013.
The refund includes $89 million in cash and $211 million in letters of credit, which the company had issued based on previous reassessments issued by the CRA in a long-running tax dispute.
Cameco says the timing of the refund has not yet been determined.
The uranium miner has been embroiled in a dispute with the federal tax agency for years over a foreign subsidiary.
Cameco won a series of court decisions for fiscal years 2003, 2005 and 2006, but issues remain for 2007 through 2013 and the company continues to engage with the CRA regarding those fiscal years.
The company says the CRA still holds 480 million, including 206 million in cash and 274 million in letters of credit, which it gave to it.
Company in this story: (TSX: CCO)
