MMG (HK:1208) has released an update.
MMG Limited has reported positive outcomes from the Tax Court in Peru for Minera Las Bambas S.A., with reinstated tax losses totaling US$1,693 million for 2014-2017, significantly reducing future tax liabilities. The court’s decisions have also nullified a US$179 million income tax assessment for 2016 and reduced a US$956 million assessment for 2017 to zero, removing the uncertainty of alleged income tax, interest, and penalties amounting to US$1,135 million. A decision on the 2018 Income Tax Assessment is expected, with the company optimistic about a favorable outcome.
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