Mexico: Supreme Court rejects Corona beer maker’s bid for VAT rebate

Mexican President Andres Manuel Lopez Obrador said on January 29 the country's Supreme Court had rejected a bid by the makers of Corona beer for a value-added tax rebate worth billions of pesos, CNBC reported.

"There was going to be a refund of billions of pesos to the company Corona, to the brewer Corona," Lopez Obrador told his regular morning news conference. "The Supreme Court decided that the request was inadmissible," he added.

Corona is made in Mexico by brewer Modelo, a unit of Anheuser Busch InBev NV, a Belgium-based company. In the United States, production of the beer is licensed to Constellation Brands Inc. Lopez Obrador did not give further details.

Modelo said in a statement later in the day that Lopez Obrador's comments referred to processes led by some former shareholders, and not any legal action taken by the company.

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