Dual-listed uranium fuel company Cameco Uranium has been awarded $10.25-million for legal fees incurred, plus a still-to-be-confirmed amount for disbursements, by the Tax Court of Canada following Cameco's application to recover substantial costs incurred in its dispute of reassessments with the Canada Revenue Agency (CRA) for the 2003, 2005 and 2006 tax years.
“I am pleased that we have been awarded $10.25-million for legal fees and we are optimistic that we will recover all or substantially all of the $17.9-million in disbursements,” Cameco president and CEO Tim Gitzel said on Tuesday.
The CRA has, meanwhile, indicated its intention to appeal the September 2018 court judgment that found in favour of Cameco and on which Cameco based its application to recover legal fees.