Tuesday, July 7, 2015

Silver Wheaton Corp - SLW.t

Silver Wheaton Corp - SLW.t is the largest precious metals streaming company in the world. The company has a number of agreements where, in exchange for an upfront payment, it has the right to purchase all or a portion of the silver and/or gold production, at a low fixed cost, from high-quality mines located in politically stable regions around the globe.

Silver Wheaton currently has streaming agreements for 21 operating mines and 6 development stage projects.

On July 7, 2015, the company reported News

"Silver Wheaton Corp. has received a proposal letter dated July 6, 2015, from the Canada Revenue Agency, in which the CRA is proposing to reassess Silver Wheaton under various rules contained in the Income Tax Act (Canada). The proposal outlines CRA's position that the transfer pricing provisions of the Income Tax Act (Canada) relating to income earned by the company's foreign subsidiaries outside of Canada should apply such that the income of Silver Wheaton subject to tax in Canada should be increased for the 2005 to 2010 taxation years by approximately $715-million ($567-million (U.S.)).

The issuance of the proposal does not require the company to pay any amount to the CRA at this time. Management believes that the company has filed its tax returns and paid applicable taxes in compliance with Canadian tax law. Silver Wheaton intends to vigorously defend its tax-filing positions and is now in the process of preparing its response to the proposal.