SQM to lose $7m from Q1 2015 income following tax probe

By Josie Shillito
Published: Tuesday, 31 March 2015

The result of the investigation into SQM's tax status will hit the company hard, costing it $7m in net income from its first quarter 2015 results. At the end of last year, the group's results were propped up by an extra $13m net income from the sale of mining rights to Antofagasta Minerals, but accusations about payments to politicians have dogged the company in recent months and led to the ousting of its CEO.

Sociedad Quimica y Minera (SQM) will lose approximately $7m from its Q1 2015 results as a consequence of the tax probe conducted into the company by the Chilean authorities. .

Consisting of around $4m in expense-related payments and $3m in interest-related payments, the $7m will be deducted as net income, said...

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