Argentina: Grain traders accused of criminal tax evasion

Date: 2 Jun 2011

The world's largest grain traders, ADM, Bunge, Cargill and Dreyfus, will be taken to court by the government for allegedly avoiding the payment of tax.

In an interview with the UK's Guardian newspaper, the head of the country's revenue service said that the companies had shown very little profit in Argentina in a year (2008) when commodities prices had risen and retail prices had gone up. Ricardo Echegaray described the situation as being one where the companies had "gone into criminality."

The government had investigated some of the destinations of exports, and found that declarations made to customs did not tally with corporate income tax returns.

All the companies named have said that there is no substance to the charges and they will vigorously defend themselves from the lawsuit.

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