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Argentina accuses grain giant of tax evasion

 A cargo ship is loaded with wheat in Rosario, Santa Fe province, Argentina. The country's President Cristina Kirchner has accused multinational grain producer Bunge of committing the "biggest tax evasion" in the south American nation's history, worth some 300 million dollars (1.2 billion pesos). AFP - Argentine President Cristina Kirchner has accused multinational grain producer Bunge of committing the "biggest tax evasion" in the country's history, worth some 300 million dollars (1.2 billion pesos).

Argentina accuses grain giant of tax evasion
06 October 2010 - 06:43

 A cargo ship is loaded with wheat in Rosario, Santa Fe province, Argentina. The country's President Cristina Kirchner has accused multinational grain producer Bunge of committing the "biggest tax evasion" in the south American nation's history, worth some 300 million dollars (1.2 billion pesos). AFP - Argentine President Cristina Kirchner has accused multinational grain producer Bunge of committing the "biggest tax evasion" in the country's history, worth some 300 million dollars (1.2 billion pesos).

A cargo ship is loaded with wheat in Rosario, Santa Fe province, Argentina. The country's President Cristina Kirchner has accused multinational grain producer Bunge of committing the A cargo ship is loaded with wheat in Rosario, Santa Fe province, Argentina. The country's President Cristina Kirchner has accused multinational grain producer Bunge of committing the "biggest tax evasion" in the south American nation's history, worth some 300 million dollars (1.2 billion pesos).

"Unbelievably, they evaded more as they earned more," Kirchner wrote in a post to the micro-blogging site Twitter, from Germany where she is making an official visit.

Authorities raided six Bunge offices Friday after the national tax office discovered the suspected evasion of taxes between 2007 and 2009.

Bunge responded with a statement Tuesday that said its operations are examined "by external auditors in accordance with internationally accepted standards."

The group denied wrongdoing and said searches of the company offices failed to produce any evidence that "could substantiate the allegations of any crime."

Argentine authorities are investigating whether the company evaded taxes by "triangulation" of its grain exports through a subsidiary in Uruguay and moving the product to European markets, said an unnamed source close to the case quoted in the Argentine press.

Bunge has operations in Brazil, Uruguay, Paraguay and the United States. It is a leader in grain markets in Argentina, the world's largest exporter of wheat, second for corn and one of the top exporters of soybeans.

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