Wheaton Precious Metals (WPM +0.5%) has nearly finished the discovery process in the Canada Revenue Agency case over the plan to reassess foreign earnings, CEO Randy Smallwood says.
WPM has not received official signoff from the CRA but the tax agency has asked no further questions and scheduled no additional interviews, the CEO says, adding "I feel incredibly confident about our position."
“We do not believe that Canada deserves any tax revenue for gold and silver that’s being mined in Mexico, Peru, Sweden, Brazil,” Smallwood says. "We have to fight this."
WPM is "open to settling this and putting it behind us, but we believe the right answer is zero,” the CEO says, "so if we do settle it, it’s going to be for a number very close to zero."
Source: Bloomberg First Word
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