translated from Spanish: Court orders Elektra to pay 2 thousand mdp SAT per tax debit

Mexico City.- Grupo Elektra, belonging to Ricardo Salinas Pliego, must pay 2 billion pesos to the Tax Administration Service (SAT), by decision of the Federal Court of Administrative Justice (TFJA). The judges and magistrates of the high court unanimously approved the legality and validity of the payment for that amount, which is part of a transaction carried out in 2010 in relation to Mexicana de Aviación.
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The company, through an intermediary, acquired shares of a company that was divided from Mexicana and then merged with another. However, the issuer listed on the Mexican Stock Exchange erred in adding the cost of acquiring shares in the amount of 5 thousand 584 million 929 thousand pesos for losses. Judge Carlos Chaurand noted that in making such a transaction there was a negative balance in the Tax Profit Account.It should be mentioned that the magistrate rejected 16 challenges brought by the group lawyer Elektra, Jesús Morales Aguilar, who intended to avoid the payment of 2 billion 771 thousand pesos for “Consolidated Income Tax, acting, surcharges and fines in the 2010 tax year”.

Original source in Spanish

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