Catalyst Paper (TSX:CYT) has vannounced that the Supreme Court of British Columbia had ruled in favour of Catalyst Paper in its action against the Province of British Columbia involving a reassessment of the amount of sales tax payable under the Social Services Tax Act on electricity purchased from Powell River Energy Inc. in 2001 through 2010. Catalyst Paper estimates that it will receive a sales tax refund of $5.8 million including interest.
The Province of British Columbia has thirty days to apply for leave to appeal.
SOURCE: Catalyst Paper Corporation
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