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Mexico’s Supreme Court Upholds 2.87 Billion-Peso Tax Bill for First Majestic Affiliate

The unanimous ruling closes the constitutional route by revoking a previously admitted review.

Overview

  • Primero Empresa Minera must pay MXN 2,868,853,516.57 for 2012 ISR and IETU, including updates, surcharges, and fines, after the judgment was left final.
  • The plenary backed Minister Lenia Batres’s project to overturn a February admission by then–court president Norma Piña, granting a Finance Ministry reclamation that led to the case’s dismissal.
  • The Court declined the company’s request to delay resolution, noting there is no mechanism in law to postpone while the firm pursues talks with fiscal authorities.
  • On October 23, the Court fined the company 70 UMA for an unfounded impediment aimed at stalling the case, a sanction ministers described as a check on procedural tactics.
  • The fiscal credit stems from SAT oficio 900-06-04-0000-2019-000773 validated by the TFJA in 2023, with the firm’s separate international arbitration filings noted in prior reporting.