And that could be that their current operation is under some form of duress, ecological, radioactive (Fukashima, for example), something similar.
Remember.... it is US government IOUs that are held by Socialist Security, the scam used to enumerate and enslave the American people.
Wanna bet how long that Ponzi scheme remains solvent?
History indicates that leading up to the last market crash commodities fell dramatically in price. Sound familiar?
if SLW management discovered that the whole tax issue was the result of an organized effort to short the stock. I wouldn't put anything beyond any government agency anywhere. I think it odd that there has been nothing further from the company. Maybe it's premature and maybe it isn't. One would think that these sorts of matters would be relatively clear cut.
The reality is we are talking about relatively rare and highly useful elements, especially silver, that have an enormous number of commercial, industrial and even medical applications. Solar energy being in the forefront.
Given this scenario, we compare it against the FED's debt based money with it's perpetually accruing finance charge that is used to enslave the population while siphoning away the wealth accumulated by the middle class. The oddity being that it is held in higher esteem.
If we're ever visited by advanced civilizations that chose to reveal themselves to mankind in a wholesale manner, could we ever explain the lunacy of the situation described above?
Although I hope that when the dust settles that things will be much better than they look just now, it seems as though there was no criminal intent involved and it may all be allayed to a misinterpretation. If Canadian tax law/regulations are anything like those of the US, then that is a distinct possibility. Is there any chance that a compromise might be forthcoming? I ask because if the regs were not written plainly, and could be misinterpreted, getting hit over the head with a sledge doesn't seem appropriate. Perhaps there will be some litigation as a result.
My major concern going forward is not the share price per se as the macro conditions will continue to worsen and we all recognize the end result, but rather what will happen to the dividend in the short and medium term.
I believe you've made a very shrewd move. In the longer term, as history shows time and again, fiat money always reverts to it's intrinsic value. The fiat dollar (of course we call it that but it fails the legal definition), has already surpassed the normal life expectancy of such fraudulent enterprises. I marvel that they have managed to keep it going, but then I look around at all the market distortion that has been undertaken to keep it alive and wonder just how chaotic (and deadly) things will be when it finally pops.
Neither a flat tax or a National Sales Tax addresses the underlying problem, which is the debt based monetary system. In fact, they only serve to perpetuate the fraud. Why anyone would support a mechanism that leaves the gangbanksters sitting pretty astride the financial aorta of our country cannot be explained unless one uses the word imbecile.
VANCOUVER, July 6, 2015 /CNW/ - Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (TSX:SLW) (NYSE:SLW) announces that it has received a proposal letter dated July 6, 2015 (the "Proposal") from the Canada Revenue Agency (the "CRA") in which the CRA is proposing to reassess Silver Wheaton under various rules contained in the Income Tax Act (Canada).
The Proposal outlines CRA's position that the transfer pricing provisions of the Income Tax Act (Canada) relating to income earned by our foreign subsidiaries outside of Canada should apply such that the income of Silver Wheaton subject to tax in Canada should be increased for the 2005 to 2010 taxation years (the "Relevant Taxation Years") by approximately Cdn$715 million (US$567 million). The issuance of the Proposal does not require the Company to pay any amount to the CRA at this time.
Management believes that the Company has filed its tax returns and paid applicable taxes in compliance with Canadian tax law. Silver Wheaton intends to vigorously defend its tax filing positions and is now in the process of preparing its response to the Proposal.
"We remain confident in our business structure which we believe is consistent with that typically used by Canadian companies, including Canadian streaming companies, that have international operations," said Randy Smallwood, President and Chief Executive Officer of Silver Wheaton.
"Generally a company is taxable in Canada on its income earned in Canada, while non-Canadian income earned by foreign subsidiaries is not subject to Canadian income tax. However, with this Proposal, the CRA is seeking to tax, within Canada, streaming income earned outside of Canada by our foreign subsidiaries related to mines located outside of Canada," added Smallwood.
Failing a resolution at the Proposal stage, the CRA may proceed to issue notices of reassessment for one or more of the Relevant Taxation Years. If the CRA reassesses Silver Wheaton on the basis outlined in the Proposal, an
Do we know for a fact that the claims are legit? The IRS does this sort of stuff, too, and often it's either bogus or way, way less than the grandstanding claims.
I think it sheds some light on the macro economic environment that is being overlooked.
It's entitled: "Oil’s Collapse Is Accompanied by Consumer Goods Decline"
One wonders if the Chinese Plunge Protection Team corresponds with the other Plunge Protection Teams to coordinate the fiction.