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3/23/17

Silver Wheaton (SLW) is still a tax cheating company

Randy must think he's really really clever.

Back in 2015 this humble corner of cyberspace noted, in the midst of the new hoo-hah around the Canadian tax people putting Silver Wheaton (SLW) under tax evasion investigation, that SLW contributed virtually nothing in the way of taxes despite its multi-billion dollar market cap (and very unlike peer company Franco-Nevada (FNV), a company that plays fair with the tax man. Therefore it's sad to report that SLW is still cheating the tax man. Here's a chart that shows the amount of pre-tax earnings, tax paid and net earnings over the past six years at SLW:


Impressively, the tax cheats run by Randy Smallwood have managed to book U$1.756Bn of pre tax earnings and pay just U$12.2m on that sum, a corporate tax rate of 0.7%. There should be a law...wait, there is!

Funny how Randy "owns his decisions" but feels no obligation whatsoever to his country.