BlackBerry may score $1B tax rebate

BlackBerry is negotiating for a tax refund that could be worth up to $1 billion, reports Bloomberg.

Read: Fairfax pulls BlackBerry offer, Watsa returns

It’s asking for a larger refund than previously estimated. In a recent regulatory filing, the communications company said it expected to receive a $500 million rebate early next year.

Now, sources have told Bloomberg the company is pushing for a refund by Dec. 31, 2013.

The company is likely using a tax-loss harvesting strategy to apply its recent losses to past profits, Bloomberg says.

Read more here.

Also read:

Will John Chen rescue Blackberry?

Does Facebook want to buy BlackBerry?

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.