- Write by:
-
Monday, June 15, 2020 - 9:55:54 PM
-
802 Visit
-
Print
Mining News Pro - First Majestic Silver Corp has asked Canada’s ambassador to Mexico to intervene in an escalating tax dispute with President Andres Manuel Lopez Obrador’s government, the Canadian miner’s chief executive said on Friday.
Lopez Obrador said on Tuesday that some of Canada’s mining firms were behind on their tax payments and urged the Canadian government to lean on them to avoid the dispute reaching international tribunals.
He did not mention First Majestic by name, but the miner last month said it had served notice to Mexico’s government under its North American trade treaty obligations to begin talks to resolve taxation disputes.
“We’ve been trying to get somebody to the table to finally put this behind us,” First Majestic CEO Keith Neumeyer told Reuters.
The miner wrote to Canadian ambassador Graeme Clark this week and is hoping to set up a meeting with Lopez Obrador, Neumeyer said.
The Vancouver-based company, which owns several mines in Mexico, disputes reassessments issued by Mexico’s tax authority totaling $209.2 million, filings show.
Lopez Obrador has made cracking down on tax breaks a priority. Several major companies, including the Mexican unit of U.S. retailer Walmart Inc and Mexican conglomerate Femsa, have recently agreed to make tax payments to Mexico.
Neumeyer said the company had proposed three settlement offers since 2018 before launching the trade challenge last month.
“Each of the offers has been rebuffed,” he said, declining to provide details.
The tax authority, Servicio de Administracion Tributaria, could not immediately be reached.
Short Link:
https://www.miningnews.ir/En/News/548709
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
Adriatic Metals is taking over as the operator of the Rupice deposit development, which is part of the company’s Vares ...
Shares of MAG Silver rose on Thursday following the release of a new mineral resource estimate for the Juanicipio ...
Australia’s Perseus Mining is not giving up on its plans to acquire African gold developer OreCorp, releasing on Friday ...
British-based Adriatic Metals has produced the first concentrate at its Vares silver project in central Bosnia, the ...
Mexican President Andres Manuel Lopez Obrador’s proposal to ban open-pit mining will generate uncertainty and curtail ...
Dolly Varden Silver (TSXV: DV) has discovered a new, gold-rich zone to the northwest of its Homestake Silver deposit in ...
Hecla Mining, the largest silver producer in the United States, is looking to expand into Mexico, Peru and two other ...
Pandora, the world’s largest jeweller by amount of products sold, has stopped using mined silver and gold and now only ...
No comments have been posted yet ...