Doubling downThe Mexican government also is said to be doubling down on an effort to criminally prosecute First Majestic's local unit, Primero Empresa Minera, for tax fraud related to the scheme, even after a judge
delayed filing charges last week.
Mexico's Tax Administration Service has sought 5.5B pesos ($267.1M) in tax debt so far, with the remaining half of the total yet to enter into formal disputes, according to the report.
Mexican tax authorities
plan to seek more than $500M from First Majestic Silver
(AG +22.5%) for what they claim are
taxes owed for artificially keeping its silver prices low over the past decade, Reuters reports.