A fiscal court ruled Gerdau’s Peruvian subsidiary, Siderperu, should receive a tax reimbursement of about PEN 10.2 million ($3.09 million), the steelmaker said.
Peruvian tax agency, Sunat, fined Siderperu over a commission earned by the steelmaker following the purchase of scrap. A Peruvian fiscal court demanded Sunat to pay Siderperu $3.09 million, including interests, for the mistaken decision.
Siderperu said it has already received the $3.09 million tax reimbursement.
USD = PEN 3.29 (April 9)