IBM pays MXN $669 million in back taxes to Mexico

Mexico has collected billions in taxes from from big corporations in 2020

IBM pays MXN $669 million in back taxes to Mexico
IBM urged taxpayers to comply with their liabilities - Photo: Mark Lennihan/AP
English 27/08/2020 14:30 Leonor Flores Mexico City Actualizada 14:30
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Technology company IBM Mexico published on a national newspaper it has already paid its tax liabilities worth MXN $669 million.

In a brief text, the multinational operating in Mexico informed that IBM Comercialización y Servicios has reached an agreement with Mexico’s Ministry of Finance and Public Credit (SHCP).

With that, it asserted the pending procedures regarding previous fiscal years by paying the SHCP the set taxes.

Likewise, it confirmed its commitment to operating according to the legal framework as every company is meant to do.

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The announcement is part of the reparatory agreement IBM Mexico signed with Mexico’s Attorney General’s Office for Fiscal Maters where it committed to informing about the situation in a national newspaper and urging taxpayers not to evade taxes and fulfill their liabilities in due form.

Back on May 30, Mexico’s President Andrés Manuel López Obrador revealed IBM de Mexico agreed to regularize its tax situation by agreeing to pay MXN $669 million in back taxes.

Walmart Mexico and FEMSA, Coca Cola’s bottler company and the owner of OXXO convenience stores, also agreed to pay their tax liabilities to Mexico’s Tax Administration Service (SAT).

“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.

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.

“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.

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

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