Franco-Nevada Corporation announced that it has reached a settlement with the Canada Revenue Agency (CRA) regarding its tax dispute. This settlement provides a final resolution for the reassessments under transfer pricing rules for the 2013 to 2019 taxation years.
The dispute was related to income generated by two of the company's wholly-owned foreign subsidiaries, Franco-Nevada (Barbados) Corporation and Franco-Nevada Mexico Corporation, S.A. de C.V., outside of Canada.
Crucially, the settlement will not require Franco-Nevada to pay any tax in Canada on the foreign earnings of these subsidiaries for the 2013 to 2019 taxation years. This resolution removes a significant area of financial uncertainty for the company.
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