Royal Bank of Canada (RY,RY.TO: Quote) said it has resolved several tax matters and would release nearly $130 million of tax uncertainty provisions recorded earlier against businesses which were discontinued in previous years. Further, RBC would earn interest income of $70 million or $50 million after-tax in relation with a refund of taxes paid in previous years.
The company noted that the financial impact of this settlement would be reflected in its third quarter results.
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by RTT Staff Writer
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