Chile: Cemento Polpaico to pay US$14.6m in back-taxes

Cemento Polpaico reported that the Chilean tax office (SII) has ordered the cement producer to pay U$14.6m in back-taxes for the years 2012 and 2013.

Liquidations have led to US$7.2m outstanding with the country’s revenue authorities, with adjustments, interest and fines by SII increasing the amount payable to US$14.6m.

Polpaico indicated that it believes the adjustments are unfounded and incorrect and is expected to complain to the relevant tax authorities.