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Tyson Has Not Recorded a Reserve for Surprise $411 Million Tax Bill
Mexican tax authorities want the equivalent of 12.6% of the meat company’s FY22 net income.
November 15, 2022
Tyson (TSN), a meat company, is now quantifying the tax bill it recently received from Mexican tax authorities. In its latest annual report, Tyson says Mexico wants $411 million, including interest and penalties related to the company’s 2015 sale of its interest in two subsidiaries. Tyson says it’s appealing the assessment and acknowledges:
“... we have not recorded a liability related to the issue.”
The tax bill is the equivalent of 12.6% of Tyson’s FY22 net income.
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