Audits suggest Crocs may owe up to $36.3 million

By: Associated Press Email
By: Associated Press Email
Green Garden Clogs On A Blue Table

Green Garden Clogs On A Blue Table

BOULDER, Colo. (AP) -- Niwot-based Crocs Inc. is disputing estimates that it may owe up to $36.3 million following separate audits by agencies in Mexico and the U.S.

The Daily Camera reports (http://bit.ly/VJcomJ) that in an annual report filed with the Securities and Exchange Commission, Crocs said U.S. Customs and Border Protection has projected that the shoe company owes about $14.3 million in unpaid duties from 2006 to 2010. Crocs contends the amount due is "considerably less." Crocs doesn't expect a final report from the agency until mid-2013.

Meanwhile, Mexico's Federal Tax Authority contends Crocs owes $22 million in taxes and penalties for the value of imported raw materials from January 2006 to July 2011. Crocs contends the proposed penalty is unfounded. It is trying to resolve the matter in Mexican courts.


KKCO firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKCO 11News.

powered by Disqus
KKCO NBC 11 News 2531 Blichmann Avenue Grand Junction, CO 81505 Station Phone: 970.243.1111 Business Fax: 970.243.1770 Newsroom Fax: 970.245.3793 News Tip & Contest Line: 970.255.8477
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 193159071