Codere demands Mexico’s Supreme Court settle $69M tax dispute

Codere demands Mexico’s Supreme Court settle $69M tax dispute

Article brief provided by SBC News
  • Ted Menmuir, SBC News
January 23, 2024 3:24 PM

The Supreme Court of Justice in Mexico has been compelled to intervene in the tax dispute between the gambling group Codere SA and SHCP, Mexico’s Ministry of Finance and Public Funds.

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The dispute arises from the SHCP’s demand that Codere, a Spanish gambling group, should pay taxes and surcharges for the year 2008, which the Ministry estimates to be MEX 1.2bn pesos [$69m].

Codere claims it was exempt from tax obligations in 2008 due to an ‘amparo’ granted by Mexico’s Federal Court of Administrative Justice (TFJA).

Following a ‘new determination’ by the Tax Administration Service (SAT), which increased Codere’s tax charge from MEX560m to 1.2bn pesos, the SHCP has reinitiated its tax dispute.