19 February 2009

Need a new car?

You might wanna start thinkin' about a KIA...
The federal government has slapped a $500-million charge against Chrysler Canada Inc. as part of a high-stakes tax battle that is complicating government bailout negotiations for the troubled auto maker.

According to Federal Court documents obtained by The Globe and Mail, the Canada Revenue Agency began notifying Chrysler Canada in 2002 that it had been reassessed and owed “substantial increases” in taxes for three years starting in 1996.
Apparently the bailout's been in operation for the better part of the last decade.

*