Cameco wins court case against Canada Revenue Agency

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In a roughly 300-page judgment, which Cameco posted to its website, Tax Court of Canada Justice John R.Owen sided with the company.

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Gitzel said that for him, the ruling was about more than just business.

“This attacked the integrity of our company and the people in our company. I took it personally.”

He went on to say the ruling amounted to vindication after years of having a cloud hovering over the business.

“We built this company on integrity. Every day, we comply with the laws of every country we operate in,” he said.

The CRA still has 30 days to appeal the decision. It also remains to be seen if the judgment will apply to other tax years that remain disputed between Cameco and the CRA.