Market Impact: Perhaps slightly negative as the CRA has made its proposal official. It is important to note that unlike past CRA disputes with other Canadian oil & gas companies, BTE will not have to provide any security (typically 50% of the claim) as the claim is against commercial trusts, and some of those other disputes have been settled by reducing tax pools instead of paying cash. Nevertheless, until this dispute with the CRA is resolved, it have at least some impact on BTE's internal budg ....
23 Jun 2016
RECEIVES TAX REASSESSMENT FROM CRA (ESTIMATED CASH AT STAKE ~$134 MM)
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RECEIVES TAX REASSESSMENT FROM CRA (ESTIMATED CASH AT STAKE ~$134 MM)
Baytex Energy Corp. (BTE:TSE) | 0 0 (-2.1%) | Mkt Cap: 758.2m
- Published:
23 Jun 2016 -
Author:
Michael P. Dunn -
Pages:
4
Market Impact: Perhaps slightly negative as the CRA has made its proposal official. It is important to note that unlike past CRA disputes with other Canadian oil & gas companies, BTE will not have to provide any security (typically 50% of the claim) as the claim is against commercial trusts, and some of those other disputes have been settled by reducing tax pools instead of paying cash. Nevertheless, until this dispute with the CRA is resolved, it have at least some impact on BTE's internal budg ....