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First Majestic Gets Break in Opening Round of Mexico Tax Case

  • Mexican judge rejects tax fraud charges in initial hearings
  • Case tests strength of Mexico crackdown in the courts
Updated on

First Majestic Silver Corp. won a reprieve on criminal tax fraud charges in initial Mexican court hearings for a case that will test the strength of the country’s crackdown on tax evasion, according to people familiar with the matter.

A judge in Mexico City declined to charge the Canadian mining company with criminal tax fraud, said the people, who spoke on condition of anonymity as the matter is private. Prosecutors can still return to court and present additional evidence. One of the people said the judge delayed ruling until an audit by Mexico’s tax authority was finished and that the judge hadn’t ruled yet on the evidence presented in the case.