Franco-Nevada reaches settlement with CRA over transfer pricing dispute

* Franco-Nevada (NYSE:FNV [https://seekingalpha.com/symbol/FNV]) has settled its tax dispute with the Canada Revenue Agency related to 2013–2019 reassessments.
* No Canadian tax will be payable on foreign earnings of subsidiaries Franco-Nevada Barbados and Franco-Nevada Mexico for those years.
* Service fee mark-up for intercompany services will increase from 7–20% to 30%, triggering C$1.4M in additional taxable income.
* Due to non-capital losses, no additional cash taxes are expected from the increased income.
* All transfer pricing penalties will be reversed; interest charges will be reduced accordingly.
* Source: Press release [https://seekingalpha.com/pr/20230207-franco-nevada-reaches-settlement-on-canadian-tax-disputes]

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