BRIEF-Olympia financial group resolves withholding tax proceedings

Mon Apr 11, 2016 6:07pm EDT
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April 11 (Reuters) - Olympia Financial Group Inc

* Olympia financial group inc. Resolves withholding tax proceedings

* Been advised that 2015 proposed assessments will not be issued; Co will not be subject to additional $1.9 million potential liability

* Resolved its ongoing disputes with Canada revenue agency

* Resolutions relating to claims for withholding taxes owing in accordance with section 116(5) of income tax act (canada)

* To resolve matter, Olympia has agreed to abandon its appeal of certain of transactions giving rise to 2010 assessments

* CRA has agreed to consent to olympia's appeal of certain of transactions Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)