The Canadian government provided more than $1 billion in loans to a mining company that used a complex offshore business structure to allegedly avoid nearly $700 million in Canadian tax. Turquoise Hill disputed the SOMO report, saying the company had received approval from the Canada Revenue Agency for its tax structure. “Turquoise Hill and Oyu Tolgoi are committed to tax transparency and Turquoise Hill believes that our tax practices are . In December, the Mongolian government handed Turquoise Hill a $155-million tax bill that the company is disputing. “Turquoise Hill is of the firm view that Oyu Tolgoi LLC has paid all taxes and charges required under the Investment agreement .

Source: thestar February 05, 2018 11:03 UTC