Golden Horse Minerals Limited Provides Corporate Update and Tax Compliance Update in Perth, Australia

Golden Horse Minerals Limited, a mining company based in Perth, Australia, recently provided a corporate update regarding its tax filing obligations with the Canada Revenue Agency (CRA). The company disclosed that it had not filed certain income tax and information returns for the years 2010 to 2022, potentially leading to penalties and interest under the relevant income tax legislation.

Despite believing that no income taxes are payable to the CRA, Golden Horse may be liable for penalties and interest due to non-compliance with tax filing obligations. In response to this issue, the company’s Directors provisioned $222,000 in the December 2023 Consolidated Financial Statements to cover potential penalties and interest.

Management at Golden Horse Minerals is actively working to address this matter and ensure compliance with all applicable tax laws. The company is collaborating with its tax advisors to resolve outstanding tax filings and negotiate potential penalties and interest with the CRA.

It is important to note that the final outcome of this situation cannot be accurately estimated at this time, as additional penalties may arise. The provision of $222,000 is subject to change pending the CRA’s final assessment of the tax returns and the results of negotiations with the agency.

Golden Horse Minerals has committed to providing further updates as more information becomes available. For more information, interested parties can contact Graeme Sloan, Chairman/Interim CEO, or visit the source version of the press release for additional details.