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UFS > SEC Filings for UFS > Form 8-K on 26-Aug-2014All Recent SEC Filings

Show all filings for DOMTAR CORP

Form 8-K for DOMTAR CORP


26-Aug-2014

Regulation FD Disclosure


Item 7.01 Regulation FD Disclosure

During the second quarter of 2012, the Internal Revenue Service ("IRS") began a routine audit of the Company's 2009 U.S. income tax return, and in the third quarter of 2013 expanded the audit period to include the tax returns for the 2010 and 2011 tax years. In August 2014, the IRS concluded these audits, thereby effectively closing the taxation years 2009, 2010 and 2011. The conclusion of the IRS audits will result in the recognition of previously unrecognized tax benefits in an amount of approximately $204 million, of which $178 million relates to the confirmation of non-taxability of Alternative Fuel Tax Credits. This non-cash recovery will affect Q3 2014 and full year 2014 effective income tax rates. Furthermore, the conclusion of the audits will result in the recognition of deferred revenue of $18 million in Operating Income in Q3 2014.

In accordance with General Instruction B.2 of Form 8-K, the information presented herein shall not be deemed to be "filed" for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section, and is not to be incorporated by reference into any filing of the Company under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.


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