Advertisement
Canada markets closed

  • S&P/TSX

    21,807.37
    +98.93 (+0.46%)
     

  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     

  • DOW

    37,986.40
    +211.02 (+0.56%)
     

  • CAD/USD

    0.7275
    +0.0012 (+0.16%)
     

  • CRUDE OIL

    83.24
    +0.51 (+0.62%)
     

  • Bitcoin CAD

    87,694.84
    +4,924.99 (+5.95%)
     

  • CMC Crypto 200

    1,371.97
    +59.34 (+4.52%)
     

  • GOLD FUTURES

    2,406.70
    +8.70 (+0.36%)
     

  • RUSSELL 2000

    1,947.66
    +4.70 (+0.24%)
     

  • 10-Yr Bond

    4.6150
    -0.0320 (-0.69%)
     

  • NASDAQ

    15,282.01
    -319.49 (-2.05%)
     

  • VOLATILITY

    18.71
    +0.71 (+3.94%)
     

  • FTSE

    7,895.85
    +18.80 (+0.24%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • CAD/EUR

    0.6824
    +0.0003 (+0.04%)
     

Suncor resolves tax dispute with Canada Revenue Agency

Reuters
A Suncor refinery is seen in Sherwood Park, near Edmonton, Alberta, Canada November 13, 2016. REUTERS/Chris Helgren - RTSSZQT (Reuters)

(Reuters) - Suncor Energy, Canada's largest oil and gas company, said on Monday that it had resolved a dispute with the Canada Revenue Agency (CRA) over its income tax treatment from 2007. The Tax Court of Canada's decision closes the dispute between CRA and Suncor over the company's income tax treatment of realized losses in 2007 on the settlement of certain derivative contracts, Suncor said in a statement. Suncor also said that it will take steps to get back the $657 million it had given to CRA and the provinces of Quebec and Ontario for the dispute. (Reporting by Parikshit Mishra in Bengaluru)