IBM agrees to pay MXN $669 million in taxes to Mexico

Recently, Walmart and Femsa agreed to pay their tax liabilities

IBM agrees to pay MXN $669 million in taxes to Mexico
The IBM logo is displayed - Photo: Seth Wenig/AP
English 02/06/2020 12:44 Leonor Flores Mexico City Actualizada 13:00

Leer en español

IBM de Mexico has regularized its tax situation by agreeing to pay MXN $669 million, as revealed on May 30 by Mexico’s President Andrés Manuel López Obrador.

“IBM de Mexico has acquainted itself with MXN $669 million,” he said.

Hence, there are three corporations, so far, that have agreed to pay their tax liabilities to Mexico’s Tax Administration Service (SAT): Walmart Mexico and FEMSA, Coca Cola’s bottler company, and the owner of OXXO convenience stores.

Recommended: Femsa agrees to pay $8,790 million in taxes to Mexico 

“It’s already known that Walmart agreed to pay MXN $8,079,000 and yesterday, FEMSA reported it acknowledged a debt to the Finance Ministry for MXN $8,790,000,000,” López Obrador said.

In a video to report several economic benchmarks, López Obrador thanked the owners and directors of these companies for agreeing to the call to abide by the law in order to uphold the rule of law.

In a stop at Palenque, Chiapas on his way to Cancún, where the President resumed his work tours on Monday, he drew attention to the relevance of there not being tax privileges for anyone.

He asserted that these actions are enabling to improve the collection of tax revenue since MXN $1.6 trillion were collected from January to May 2020, that is, there was a 2.8% increase in real terms despite the crisis.

Recommended: Walmart Mexico pays the Mexican government over MXN$8 billion in back taxes

“We’re recovering unpaid debt from some companies and corporations, and this has allowed us to have the income to strengthen public finances,” he said.

On May 29, FEMSA informed Mexico’s Stock Market that it had agreed to pay tax authorities MXN $8,790,000,000 to cease the different interpretations regarding taxes paid abroad without the need to resort to legal authorities.

In previous days, Walmart Mexico paid the SAT MXN $8,079,000 to conclude substantial tax matters that involve the sale of the Vips restaurant chain.

Recommended: Mexico fights to eradicate tax evasion