Loyalty program Aimia expecting 35million tax bill after audit by CRA

first_img Reddit Join the conversation → Facebook February 25, 20192:17 PM ESTLast UpdatedFebruary 25, 20192:59 PM EST Filed under News Retail & Marketing MONTREAL — Loyalty program Aimia Inc. says it expects to pay a bill of about $30 million plus another $5 million in interest following an audit by the Canada Revenue Agency.The Montreal-based company says CRA has concluded its audit and a re-assessment is expected.Aimia says it will make the payment using a portion of a $100-million restricted cash account set up as part of the sale of its Aeroplan program. Aimia president leaves less than three months after coming onboard Aimia launches strategic review amid efforts to close Aeroplan sale Canadians’ favourite credit card isn’t from one of the Big Six banks — it’s from a grocery chain However, Aimia says once it receives the notice of re-assessment it plans to vigorously contest the case.Aimia owns and operates the Air Miles Middle East loyalty program and also own stakes in other loyalty programs.The company completed the sale of its flagship Aeroplan program to a consortium led by Air Canada earlier this year. ← Previous Next → Loyalty program Aimia expecting $35-million tax bill after audit by CRA Aimia says it will pay the bill, but once it receives the notice of re-assessment it plans to vigorously contest the case Share this storyLoyalty program Aimia expecting $35-million tax bill after audit by CRA Tumblr Pinterest Google+ LinkedIn 0 Comments Featured Stories The Canadian Press Comment What you need to know about passing the family cottage to the next generation Email Aimia chairman of the board Robert Brown is pictured prior to a special shareholders meeting Montreal on Tuesday, January 8, 2019.Paul Chiasson/The Canadian Press advertisement Sponsored By: Twitter Morelast_img