Femsa owner of Oxxo stores and other brands pays $ 397 million USD in taxes

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Femsa , which owns Coca Cola, Oxxo , Oxxo Gas and Farmacias YzA

Through a statement, Femsa, with businesses in Mexico, Central and South America, said that the amount will be recognized in its second quarter financial statements.

Mexican retailer and bottler Femsa said on Friday that it reached an agreement with the Mexican tax authority to pay 8,790 million pesos ($ 397 million) and finalize “differences of interpretation” on taxes accrued abroad.

Through a statement, Femsa, with businesses in Mexico, Central and South America, said that the amount will be recognized in its second-quarter financial statements.

A few days ago, Walmart de México also reached an agreement with the Tax Administration Service (SAT) to make  the payment of 8,079 million pesos (mp), which concludes the review of the sale operation of the  Vips restaurant chain and Other substantial tax issues, the company reported Monday.

“The payment will be recorded in our consolidated statement of income for the three months that will end on June 30, 2020,” the company said in a statement sent to the Mexican Stock Exchange.

For its part, Alsea, the restaurant operator of Domino’s and Starbucks, also reported in February that the SAT issued a liquidation document requesting the payment of a tax of 3,881 million pesos, related to income in the acquisition of said goods. , an amount that includes updates, surcharges and fine.

Source: forbes.com.mx

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