Billionaire Salinas Battles AMLO Over Taxes, Seized Golf Course [BNN Bloomberg (Canada)]
Citigroup, Inc. (C)
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Source: BNN Bloomberg
a dispute with President Andres Manuel Lopez Obrador over what he alleges is an inflated tax bill and the recent closure of a golf course in Oaxaca. Salinas, who has amassed a fortune of $14.9 billion through his retailer Elektra and lender Banco Azteca among other businesses, has been a frequent target of Lopez Obrador during his daily press conferences in recent weeks as his six-year term comes to an end with elections slated for June 2. Lopez Obrador's tax chief said on March 20 that Salinas-owned companies owe 63 billion pesos ($3.8 billion) in taxes including inflation adjustments and fines. The assessment is being disputed in 17 different court cases covering audits from 2008 to 2018, the official said. AMLO, as the president is known, has been successful in getting companies including Wal-Mart de Mexico and Coca-Cola bottler and convenience store operator Fomento Economico Mexicano to pay billions of dollars in tax assessments. But Salinas, a sharp-elbowed businessman who
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