Suncor Energy successfully resolves $1.3 billion tax dispute with Canada Revenue Agency

All financial figures are in Canadian dollars

(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 12/05/16 -- Suncor today reports that the Tax Court of Canada has issued a favourable Order resolving the previously disclosed dispute with the Canada Revenue Agency (CRA). The dispute was in regards to the income tax treatment of realized losses in 2007 on the settlement of certain derivative contracts.

The Tax Court Order confirms the successful resolution of this matter between Suncor and the CRA, resulting in no additional taxes, interest or penalties. Suncor's original filing position on this issue is therefore maintained and all taxation matters related to this issue are now closed.

As is customary in disputes of this nature, Suncor had provided security to the CRA and the Provinces of Quebec and Ontario for approximately $657 million in respect of this issue. The company is taking steps for the return of this security.

Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development and upgrading, onshore and offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand. A member of Dow Jones Sustainability indexes, FTSE4Good and CDP, Suncor is working to responsibly develop petroleum resources while also growing a renewable energy portfolio. Suncor is listed on the UN Global Compact 100 stock index and the Corporate Knights' Global 100. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.

For more information about Suncor, visit our web site at , follow us on Twitter , or come and .



Contacts:
Media inquiries:
403-296-4000


Investor inquiries:
800-558-9071

Weitere Infos zu dieser Pressemeldung:

Themen in dieser Pressemitteilung:


Unternehmensinformation / Kurzprofil:
Bereitgestellt von Benutzer: Marketwired
Datum: 05.12.2016 - 23:00 Uhr
Sprache: Deutsch
News-ID 510952
Anzahl Zeichen: 0

contact information:
Town:

CALGARY, ALBERTA

Kategorie:

Oil & Gas

Diese Pressemitteilung wurde bisher 340 mal aufgerufen.


Die Pressemitteilung mit dem Titel:
"Suncor Energy successfully resolves $1.3 billion tax dispute with Canada Revenue Agency"
steht unter der journalistisch-redaktionellen Verantwortung von

Suncor Energy Inc. (Nachricht senden)

Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).

Suncor Energy announces 2018 capital program and production outlook ...

CALGARY, ALBERTA -- (Marketwired) -- 11/15/17 -- Suncor released its 2018 corporate guidance today which includes a capital program of between $4.5 and $5.0 billion and average upstream production of 740,000 to 780,000 barrels of oil equivalent per ...

Suncor Energy declares dividend ...

CALGARY, ALBERTA -- (Marketwired) -- 11/14/17 -- Suncor's Board of Directors has approved a quarterly dividend of $0.32 per share on its common shares, payable December 22, 2017 to shareholders of record at the close of business on December 1, ...

Suncor Energy's Steve Williams appoints Mark Little as Chief Operating Offi ...

CALGARY, ALBERTA -- (Marketwired) -- 11/09/17 -- Steve Williams, chief executive officer at Suncor, today announced the appointment of Mark Little, currently president, Upstream, as chief operating officer (COO).As Suncor's COO, Mark will be re ...

Alle Meldungen von Suncor Energy Inc.