US, Global Corporate Giants Not Amused Mexico Finally Forces Them to Pay the Taxes They Owe

[marmar]

US, Global Corporate Giants Not Amused Mexico Finally Forces Them to Pay the Taxes They Owe
by Nick Corbishley • Oct 25, 2020 •

American Bar Association, Mexican business lobby, ambassadors from the US, Canada, etc. in uproar over holding executives accountable and threatening them with criminal probes. 70 Mexican officials also investigated.
By Nick Corbishley, for WOLF STREET:


The American Bar Association (ABA) this week lambasted the Mexican government for using heavy handed tactics, including criminal probes into tax fraud, to motivate corporate tax dodgers to finally settle their tax bills. The complaint echoes a similar broadside from the International Bar Association last month and reflects growing frustration among companies about the government’s use of more stringent audits, tighter surveillance methods, and the threat of tough legal action to crack down on corporate tax dodgers and tax frauds.

The Government says it has launched criminal proceedings against 43 companies that owe 55 billion pesos ($2.6 billion) to the treasury in unpaid taxes dating back to 2010. Most other companies that have been subject to audit in recent months have agreed to settle their tax debts.

Thanks largely to its zero tolerance approach toward corporate tax dodging,the government so far this year through August has already collected over 60% more in taxes from large corporate taxpayers — 155 billion pesos ($7 billion) — than in the entire year 2019, Raquel Buenrostro, who heads Mexico’s SAT tax authority, told Reuters.

But authorities had reviewed only 627 large companies so far, she said, and over 11,000 companies, each with annual income above 1.52 billion pesos ($72 million), have not yet been audited, and more work needs to be done. ..............(more)

https://wolfstreet.com/2020/10/25/us-global-corporate-giants-not-amused-mexico-finally-forces-them-to-pay-the-taxes-they-owe/

[The Magistrate]

1. Let Us Hope This Starts A Trend, Sir

"More stringent audits, tighter surveillance methods, and the threat of tough legal action to crack down on corporate tax dodgers and tax frauds" is exactly what is needed the whole world round.

[alwaysinasnit]

2. Maybe, instead of critisizing Mexico's tactics, we should emulate them. BTW, Wolfsteet is great.

[marmar]

3. Who's criticizing?

[alwaysinasnit]

4. I apologize for my lack of clarity. I was referring to the enties named in the article.

American Bar Association, Mexican business lobby, ambassadors from the US, Canada, etc. in uproar over holding executives accountable and threatening them with criminal probes. 70 Mexican officials also investigated.
By Nick Corbishley, for WOLF STREET:

[marmar]

5. No prob.

[alwaysinasnit]

6. ...