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This press release contains “forward‐looking information” and forward-looking statements” under applicable Canadian and U.S. securities laws (collectively, “forward‐looking statements”). These statements relate to future events or the Company s future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management s experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: the timing and amount of estimated future production; arbitration proceedings; and the validity of the Advance Pricing Agreement. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, guidance cannot be guaranteed. As such, in
IRW-News: First Majestic Silver Corp : First Majestic stellt Antrag auf ein Schiedsverfahren nach NAFTA gegen die mexikanische Regierung
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First Majestic Silver: Autsch! Das wäre bitter
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Daina Beth Solomon
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MEXICO CITY, Feb 1 (Reuters) - Mexico’s government plans to seek more than $500 million from Canadian miner First Majestic Silver Corp in what it says are owed taxes for artificially keeping its silver prices low over the past decade, two sources told Reuters.
Audits dating back to 2010 show that the company owes about 11 billion pesos ($534.36 million), the sources said.
So far, Mexico’s Tax Administration Service, or SAT, has sought 5.5 billion pesos ($267.18 million) in tax debt, with the remaining half of the total yet to enter into formal disputes, according to the sources.
Officials are also doubling down on an effort to criminally prosecute First Majestic’s local unit, Primero Empresa Minera, for tax fraud related to the scheme, even after a judge held off on filing charges on Thursday, the sources and another person with direct knowledge of the case said.
By Reuters Staff
(Adds quote from statement, share price)
MEXICO CITY, Feb 2 (Reuters) - Canada’s First Majestic Silver Corp will pursue all legal avenues, including those under international law, in a prolonged dispute with Mexico over taxes, unless it can reach an amicable settlement with authorities, the company said.
Mexico has calculated that First Majestic owes 11 billion pesos ($544 million) in delinquent taxes, sources told Reuters in a story published on Monday.
“First Majestic continues to amicably resolve its differences with the government of Mexico,” the company said in a statement to Reuters late on Monday.
But if a “mutually satisfactory” solution is not reached, First Majestic said it will “continue to pursue all legal avenues available under Mexican law and international law.”