Canada: Key takeaways from Supreme Court’s termination of Cameco transfer pricing saga
On 18 February 2021, the Supreme Court of Canada declined to hear the appeal of the Canada Revenue Agency from its loss before the Federal Court of Appeal in Canada v. Cameco Corporation (2020 FCA 112) (Cameco).
On 18 February 2021, the Supreme Court of Canada declined to hear the appeal of the Canada Revenue Agency from its loss before the Federal Court of Appeal (FCA) in Canada v. Cameco Corporation (2020 FCA 112) (Cameco).
This exhausts the CRA’s options for pursuing the re-assessment of the 2003, 2005 and 2006 taxation years of Cameco Corporation, a publicly-traded Canadian uranium miner. Logically, the same result should apply to Cameco’s 2007-2014 taxation years, which were also re-assessed by the CRA on the same issue but have not yet been litigated.
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