RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:profit taxbraincloud wrote: Wallop, I don't think you understand what's what man. You have this fixation on some new tax rules that will impact immediate earnings. IMO it isn't. There have been discussions about the CAPEX and OPEX and what they paid, what it worth, is it too much, where did it get spent, is it allowed etc etc. How you arrive at the conclusion "this could be a substantial future tax increase " is beyond me. For the record The 2011 Cost Recovery Pool was $235 million, 2012 was $244 Mill, 2013 was $177 Mill and 2014 was $174 Mill. The ALBS have suggested that $303 million in CAPEX was improper and they are arguing about this right now. If you guys look back at the CAPEX and OPEX expenditures it seems completely impossible to disallow every item. So the only thing that will be resolved is a blueprint for expenses going forward. I do not anticipate any immediate impact to the tax regime that will impact BNK's profitability. It will likely impact the cost recovery pool, no doubt BUT NOT TO VALIDATE THE PROFIT TAX THE ALBANIANS ARE CLAIMING!!!
I'm talking about the future tax liability, not immediate earnings. I also think the issue is a bit deeper here. They are not happy that they have not collected any of the 50% profit tax. This might not have any effect on the past, but it sure as hell will have an effect on the future.