Mexico's top court says Cemex owes tax haven money

MONTERREY, Mexico, Sept 9 (Reuters) - Mexico's Supreme Court ruled against the world's No. 3 cement maker Cemex (CX.N)(CMXCPO.MX) on Tuesday when it overturned a ruling that protected the company from paying taxes linked to investments in offshore tax havens.

The top court cited several articles in the country's income tax law that require Mexican companies to pay tax in Mexico on investments in countries where there are no taxes or where levies are 75 percent lower than in Mexico.

Monterrey-based Cemex, which operates in 50 countries and is facing a sharp slowdown in its top market, the United States due to a slumping housing market, won an earlier ruling by a lower court to reduce its taxes owed from investments in overseas tax havens.

The court did not say how much Cemex will owe or where the investments are. A Cemex spokesman said the company will respect the court's decision, but declined further comment. (Reporting by Gabriela Lopez; editing by Carol Bishopric)