Corona did not ask for a millionaire VAT refund, clarifies Grupo Modelo

In a statement, Grupo Modelo said that the decision referred to by the President does not correspond to any legal remedy filed by the company, but to the processes that some former shareholders of the group have that are not related to it.

Corona did not ask for a millionaire VAT refund, clarifies Grupo Modelo
Corona did not ask for a millionaire VAT refund, clarifies Grupo Modelo

A resolution responsible for the Supreme Court of Justice of the Nation (SCJN) prevented the return of thousands of millions of pesos claimed by the Corona brewery for the payment of value added tax (VAT), celebrated by the president Andrés Manuel López Obrador during his morning press conference.

Seven hours later, Grupo Modelo, owned by the Belgian company Anheuser-Busch Inbev and manufacturer of the Corona beer, denied that it is undergoing a legal process as alluded to by the President.

According to the president, the SCJN considered an appeal for the government to return the VAT to the brewer, which saved a large amount of public resources that had to be delivered if the ruling had turned out to be the opposite.

For the second consecutive day, he referred to the management of a company before the highest court of justice in the country, demanding the return of resources: I am going to give you a piece of information, and you can get the others. It was going to make a return of billions of pesos to the company Corona, Corona beer, VAT refund, and the Supreme Court ruled inadmissible the request of the company. When he was informed of such determination, he said, I was very happy, because imagine what the disbursement in the budget would mean.

However, in a statement, Grupo Modelo said that the decision referred to by the President does not correspond to any legal remedy filed by the company, but to the processes that some former shareholders of the group have that are not related to it.

For its part, the Tax Administration Service (SAT) said yesterday that it is unable by law to reveal details about any decision of the SCJN to deny a tax refund to Grupo Modelo.

At the beginning of April 2017, the upper chamber of the Federal Court of Administrative Justice (TFJA) unanimously denied Ana María González Cimadevilla and Miguel Roberto Álvarez Yates, former shareholders of Grupo Modelo, the request to return approximately 634 million pesos for tax on the rent (ISR) after selling its shares in 2013 to Anheuser Busch.

The nonconformists alleged that, because it was an operation carried out through the Mexican Stock Exchange, the exemption provided by the ISR Law was applied to them.

The sale of Modelo, in 2013, to Anheuser Busch, valued at 20 billion dollars, generated revenue to the treasury for 30 billion 714 million pesos.

In the records of the SCJN there is an amparo file under review, in which Beatriz Sánchez Navarro, former shareholder of Grupo Modelo, demanded a refund of ISR for 47 million 722 thousand 955 pesos.

Sánchez Navarro requested such return with the argument that the sale of his shares to the Belgian firm was improperly taxed.

Minister Eduardo Medina Mora presented a project for the payment to be returned to the former Modelo shareholder, which was rejected by three votes.

A new opinion will be presented by the Minister Javier Laynez Potisek, who was fiscal attorney of the Federation.