Tax situation from a number of years ago, popping

Tax situation from a number of years ago, popping up. Should not have effect on the company, IMO, for at least a couple to a few years, which would mean plenty of time to allow oil prices and production to go up. Damn shame they elected to not pay the damn taxes though. Makes no sense. JMO of course. GLTA


Baytex Energy hit with tax reassessments; bill could reach $134M


Jun 23 2016, 11:42 ET | About: Baytex Energy Corp. (BTE) | By: Carl Surran, SA News Editor






Baytex Energy (BTE +3.6%) says the Canada Revenue Agency has reassessed tax filings from some of its subsidiaries denied millions of dollars worth of non-capital loss deductions, which could result in a $134M tax bill for the company.

The CRA sent BTE a notice in 2014 that proposed a reassessment of tax claims for 2011-13; BTE confirmed yesterday that the reassessments had been completed plus reassessments of deductions for 2014-15, and now expects the tax bill to reach $120M, plus ~$14M in interest payments.

BTE says it plans to appeal the findings but does not expect the total tax bill to climb further.

In times when you feel low self esteem, disappointment and perhaps even depression.......keep in mind that it may simply be the result of the fact that you are surrounded by ass holes. GLTA