Presidente Beer Deal nets US$200.0M in taxes

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Presidente Beer

Presidente Beer

Presidente Beer Deal nets US$200.0M in taxes

Santo Domingo.- Leon Jimenes Group (ELJ) president Abel Wachsmann revealed Monday that more than RD$8.4 billion (nearly US$200.0 million) will be paid in taxes from the deal in which AmBev will buy a 41.76% stake in the brewery (CND) that makes Presidente beer, Dominican Republic’s top seller.

He said all the normal steps were followed to establish that figure in that type of transaction and agreed with the Internal Taxes Agency (DGII), to guarantee that all tax commitments were complied with.

For his part, Alexandre Médicis, who will be the CEO of the CND, the transaction contributes to the country’s economic development. “We expect our contributions to continue contributing to the country’s economic development. We’re committed to continued growth; we’ll do so as the CND has always done, with transparent and responsible tax commitments.”

Source: DominicanToday.Com


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