Catalyst Paper Gets Favorable Ruling from BC Supreme Court in Reassessment of Sales Tax

Catalyst Paper estimates that it will receive a sales tax refund of $5.8 million including interest.

Jan. 30, 2014 - Catalyst Paper yesterday said that the Supreme Court of British Columbia had ruled in its favor regarding the company's 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.

Catalyst Paper manufactures diverse specialty mechanical printing papers, newsprint and pulp. With three mills located in British Columbia (Canada), Catalyst has a combined annual production capacity of 1.5 million tonnes. To learn more, please visit www.catalystpaper.com.

SOURCE: Catalyst Paper