BUZZ-Silver Wheaton Corp: Shares down on possible Canada tax reassessment

Tue Jul 7, 2015 11:03am EDT
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** Mining finance company's shares down 7.4 pct at C$20.58 on Toronto Stock Exchange; U.S.-listed shares down 8 pct at $16.14

** Company said late on Monday that it might face tax payments of more than $200 mln following reassessment "proposal" from Canada's tax authority

** Canada Revenue Agency seeking to tax income earned by company's foreign units and said that Silver Wheaton's taxable income should be increased by about C$715 mln ($565 mln) for years 2005 to 2010

** Up to Monday's close, Toronto-listed stock had fallen about 21 pct in past 12 months and U.S.-listed stock had fallen about 34 pct