Printer Friendly
The Free Library
14,380,416 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Federal Government Directed to Issue VAT Certificate In Accordance With Appellate Court Order.


KANSAS CITY, Mo. -- Grupo TMM TMM

The ISO 4217 currency code for the Turkmenistan Manet.
, S.A. (BMV BMV Bolsa Mexicana de Valores
BMV Bureau of Motor Vehicles
BMV Bundesministerium für Verkehr (German: Federal Ministry of Transport)
BMV Below Market Value
BMV Brome Mosaic Virus
BMV Bedside Medication Verification
:TMM A)(NYSE NYSE

See: New York Stock Exchange
:TMM)("TMM") and Kansas City Southern (NYSE:KSU) ("KCS KCS

keratoconjunctivitis sicca.
") announced that TFM, S.A. de C.V. ("TFM") was served on February 18, 2005 with the favorable written decision of the Federal Tribunal of Fiscal and Administrative Justice (the ''Fiscal Court'') carrying out the mandate of the Federal Court of the First Circuit (the "Federal Appellate Court"), dated November 24, 2004, which recognized TFM's legal right to receive not only the original amount of the Value Added Tax value added tax n (BRIT) → impuesto sobre el valor añadido or agregado (LAM)

value added tax n (Brit
 ("VAT") refund due from the Mexican Government (approximately 2.1 billion pesos), but also for inflation and interest on that amount from 1997. TMM and KCS previously announced that the Fiscal Court had made this favorable ruling from the bench on January 26, 2005.

In its written decision, the Fiscal Court states that TFM's legal right to receive the fully inflated VAT refund was expressly established in the Federal Appellate Court's prior decision in this case, issued on June 11, 2003. In implementing the June 11, 2003 and November 24, 2004 Federal Appellate Court decisions, the Fiscal Court ordered the federal tax authorities to make the VAT refund to TFM through a single certificate issued in TFM's name, and to refund through that certificate the original amount of the VAT refund due, increased for inflation and interest from the date the tax authorities should have made the refund in 1997, until the date that the refund certificate is actually delivered to TFM. The Fiscal Court also vacated its prior decisions in this matter.

Headquartered in Mexico City, TMM is a Latin American multimodal transportation company. Through its branch offices and network of subsidiary companies, TMM provides a dynamic combination of ocean and land transportation services. Visit TMM's web site at http://www.grupotmm.com and TFM's web site at http://www.tfm.com.mx. Both sites offer Spanish/English language options.

KCS is a transportation holding company that has railroad investments in the United States, Mexico and Panama. Its primary domestic holdings include The Kansas City Southern Railway The Kansas City Southern Railway (AAR reporting marks KCS) is a United States-based Class I railroad operating over 3,130 track miles in 12 central and southeastern states. Founded in 1887, the railroad provides the shortest route from Kansas City to the Gulf of Mexico.  Company, founded in 1887, and The Texas Mexican Railway The Texas Mexican Railway Company is a Class II railroad (formerly a Class I railroad) that operates as a subsidiary of Kansas City Southern Railway in Texas.[1] It is often referred to as the Tex-Mex, or TexMex, Railway.  Company, founded in 1885. Headquartered in Kansas City, Missouri Kansas City is the largest city in the state of Missouri. It encompasses parts of Jackson, Clay, Cass, and Platte counties and is the anchor city of the Kansas City Metropolitan Area, the second largest in Missouri, which includes counties in both Missouri and Kansas. , KCS serves customers in the central and south central regions of the United States. KCS' rail holdings and investments, including TFM, are primary components of a NAFTA NAFTA
 in full North American Free Trade Agreement

Trade pact signed by Canada, the U.S., and Mexico in 1992, which took effect in 1994. Inspired by the success of the European Community in reducing trade barriers among its members, NAFTA created the world's
 Railway system that links the commercial and industrial centers of the United States, Canada and Mexico. Visit KCS' web site at http://www.kcsi.com.

Included in this press release are certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are based on the beliefs of TMM's and KCS' management as well as on assumptions made. Actual results could differ materially from those included in such forward-looking statements. Readers are cautioned that all forward-looking statements involve risks and uncertainty. For additional information relating to such risks and uncertainties, readers are urged to review TMM's and KCS' respective filings and submissions with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Feb 22, 2005
Words:530
Previous Article:StrikeIron Launches OnDemand Web Services for Microsoft Excel; First Drag and Drop Solution to Integrate Web Services Directly into Microsoft Excel.
Next Article:Top Executives from Cynergy Data Talk to The Wall Street Transcript.



Related Articles
Challenging federal appellate review of damage awards: lawyers should cite the forgotten second clause of the Seventh Amendment.
Congress has the solution.
SUPREME COURT TIGHTENS RULES FOR REMOVAL TO U.S. COURTS.
Reining in the Court: the Constitution offers Congress powerful means to deal with an increasingly lawless judiciary.(Solution)
Proposed rule on citing 'unpublished' opinions takes first step.
An end to judicial tyranny?(The Last Word)
Grupo TMM, S.A. and Kansas City Southern.(COMPANY NEWS)(cases of Grupo TFM against Grupo TMM and Kansas City Southern)(Brief Article)
The truth about companion animals: many courts have ruled on the question of whether the Fair Housing Act's reasonable accommodation rules apply to...
Ending judicial activism: past efforts at remedying judicial activism have failed largely because of the difficulty of implementing them, but newly...
Protecting our freedom of religion: Congress has a golden opportunity to prevent the Supreme Court and all other federal courts from ruling on...

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles