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Sault Ste Marie Muncipal wants action on Essar Steel back taxes-The 18th China(Guangzhou ) Int¡¯l Casting product Exhibition
4/26/2017 casting expo-Die-casting expo-foundry expo |
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CBC.CA reported that city of Sault Ste. Marie is putting Essar Steel on notice. The municipality is owed millions of dollars in backtaxes by the steelmaker, and that number is growing. Sault Ste. Marie Mayor Christian Provenzano said that it is highly unusual for a company to stall on paying its taxes when it''s under creditor protection. He said that "Whatever [the company''s] opinion is on what its actual taxes should be, it certainly has to believe that it should pay some taxes.¡±
The Mayor said that "This is where I have a real issue with the conduct of the company. To pay no taxes is completely inexcusable. So if you think your tax bill is high, that''s fine. Make those representations, make those arguments, and we''ll have an intelligent and reasonable discussion about that. But to not pay at all, is not a reasonable position."
Essar has been under CCAA [Companies'' Creditors Arrangement Act] protection since November of 2015.
The City of Sault Ste. Marie, Ont. is appealing to the courts to try to get Essar Steel Algoma Inc. to pay property taxes municipal officials say haven''t been paid in years.
The steelmaker owes about USD 26 million to the city, Mayor Christian Provenzano told CBC. He said that number will jump to USD 30 million by next year.
The Mayor said that "It adds up really, fast, This has been ongoing for a number of years and frankly the city doesn''t believe that the current conduct of the company is appropriate."
Provenzano acknowledged the company is currently going through the creditor protection process under the Companies Creditors Arrangement Act, but maintained that in such situations, property taxes are often paid to municipalities.
-The 18th China(Guangzhou ) Int¡¯l Casting
product Exhibition
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