Total Energy Services Inc. Receives Judgment on Income Tax Reassessment Appeal
February 05 2024 - 6:49PM
Total Energy Services Inc. (TSX:TOT) (“Total” or the “Company”)
announces that its appeal of certain Canadian income tax
reassessments related to the Company’s conversion from an income
trust in 2009 has been dismissed by the Tax Court of Canada.
The Canada Revenue Agency reassessed Total for
$16.2 million of income taxes owing, of which $7.1 million was
previously remitted by the Company. Total will remit the remaining
$9.1 million of reassessed income taxes together with interest as
soon as possible and intends to appeal the judgment.
Total Energy provides contract drilling
services, rentals and transportation services, well servicing and
compression and process equipment and service to energy and other
resource industries from operation centers in North America and
Australia. The common shares of Total Energy are listed and trade
on the TSX under the symbol TOT.
For further information, please contact Daniel
Halyk, President & CEO at (403) 216-3921 or by e-mail at:
investorrelations@totalenergy.ca or visit our website at
www.totalenergy.ca.
The TSX has neither approved nor disapproved of
the information contained herein.
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