Walmart Settles $350 Million Mexican Tax Dispute Over Restaurant Sale

Mexico’s largest retailer Walmart de Mexico has agreed to pay 8.079 billion Mexican pesos ($365 million) to settle a tax claim related to the 2014 sale of a restaurant chain, the company said late Monday.

The payment relates to the Vips restaurant chain, which Walmart sold to Starbucks Coffee operator Alsea. Mexico’s tax authority Servicio de Adminsitración Tributaria presented Walmart with a tax bill for almost 10.6 billion Mexican pesos ($475 million) last February related to the sale.

The lower charge reflects “our work with SAT to interpret complex tax law and a ...