SQM Estimates It Will Pay US$1.4 Million Following Amended Tax Returns

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) has provided information to the Chilean Internal Revenue Service for review and approval ahead of the company’s filing amended tax returns. It expects to pay roughly US$1.4 million in taxes, interest and other charges in light of changes made to tax information between 2009 and 2014.
As quoted in the press release:

The Company has identified expenses from the tax periods 2009 through 2014 for which the Company has not found sufficient supporting documentation in order for such payments to qualify as tax expenses according to the tax regulations in force in Chile.
SQM estimates that as a result of these amendments, it will have to pay approximately US$1.4 million in taxes, interest and other charges.
These tax amendments are in addition to the two tax amendments that were previously filed, accepted and paid, one for SQM S.A. and one for its subsidiary SQM Salar.
SQM reaffirms its decision to continue supporting the efforts of the SII and Public Prosecutor, providing all of the information necessary to resolve the issues currently under investigation.

Click here for the full press release.