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BRIEF-Franco-Nevada Provides Update On Cra Review

Published 2018-12-05, 05:29 p/m
Updated 2018-12-05, 05:30 p/m
© Reuters.  BRIEF-Franco-Nevada Provides Update On Cra Review

Franco-Nevada Corp FNV.TO :

* FRANCO-NEVADA PROVIDES UPDATE ON CRA REVIEW

* RECEIVED PROPOSAL LETTER FROM CRA IN RELATION TO ROYALTY INCOME EARNED BY CO'S MEXICAN SUBSIDIARY DURING 2013 TAXATION YEAR

* AUDIT IS ONGOING; THERE CAN BE NO ASSURANCE THAT CRA WILL NOT RAISE FURTHER CHALLENGES WITH RESPECT TO CO/ITS UNITS

* MANAGEMENT "STRONGLY "BELIEVES THAT COMPANY HAS PAID ALL APPLICABLE TAXES IN COMPLIANCE WITH CANADIAN AND MEXICAN TAX LAWS

* CRA IS PROPOSING TO TAX A MAJORITY OF INCOME BY CO'S MEXIO UNIT DURING 2013 AS THOUGH IT WERE EARNED IN CANADA

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