Toyota Opts to Pay Back Taxes to Mexico, Skirts Court Challenge

Toyota is the latest company to pay back taxes to Mexico instead of taking the dispute to court, Mexico’s president said.

Andres Manuel Lopez Obrador on Tuesday said Walmart, Femsa, IBM, and Toyota have opted to pay back taxes owed to the Mexican tax authority rather than engaging in a long court battle that could put a strain on resources.

In May, Walmart de Mexico SAB agreed to pay 8.1 billion pesos ($370 million) to settle a tax dispute with Mexico, while beverage bottler Fomento Economico Mexicano SAB said it would pay 8.8 billion pesos in tax. And International Business ...