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ARTICLE · 25 SEPTEMBER 2018

Highlights Of Recent Tax-Related Cases

Gardiner Roberts LLP
Gardiner Roberts LLP
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The Canadian public company previously known as Silver Wheaton is in the business of providing financing to mining companies in return for a share of their production

CanadaTax
Lorne Saltman
Lorne Saltman
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Topics to Discuss

  1. Introduction:
  2. Wheaton Precious Metals Cases
  3. Gagliese Case
  4. Landbouwbedrijf Case
  5. Kau Case

Wheaton Precious Metals Tax Cases

  • The Canadian public company previously known as Silver Wheaton is in the business of providing financing to mining companies in return for a share of their production (a socalled "streaming company")
  • The CRA audited Wheaton and its wholly‐owned Cayman subsidiary for the period 2010‐2015, and reassessed on the basis that Wheaton had violated the Transfer Pricing Rules
  • As a result, the Cayman income of $715 million was attributed to the Canadian parent, which was assessed for $310 million of taxes, interest and penalties

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