UPDATE 1-Multinational firm in Mexico tax-avoidance probe to pay up
(Add comments from tax authority)
By Joanna Zuckerman Bernstein and Alexandra Alper
MEXICO CITY Dec 22 (Reuters) - Mexico's tax collection agency (SAT) on Monday said it reached a deal with a multinational company at the center of a tax-avoidance investigation.
The unnamed company will pay a sum equivalent to about 55 percent of its sales in a fiscal year, a spokesman for the SAT said in an email.
The company "finally recognized that it owed the treasury and decided to fix that," the spokesman wrote.
Reuters reported in September that the world's No. 2 toymaker Hasbro Inc, along with household product maker Procter & Gamble Co, were at the heart of the tax probe.
A SAT spokesman said it reached its deal with the company last week. Officials at Hasbro and Procter & Gamble declined to comment.
Mexico said in January it had launched an investigation of 270 companies for allegedly exploiting tax loopholes that have leaked income out of Mexico for years. (Reporting by Joanna Zuckerman Bernstein and Alexandra Alper; Editing by Bernadette Baum and Lisa Shumaker)
© Thomson Reuters 2017 All rights reserved.