Argentina Expels Bunge From Key Grains Registry

Argentina has expelled agribusiness giant Bunge from a key government grains registry after a tax probe, a source at the AFIP tax agency spokesman said May 10.

Bunge, Louis Dreyfus, and Cargill, among other grain exporters, were suspended from the registry by the tax agency for alleged tax evasion earlier this year.

Argentine tax inspectors raided the premises of some of the country’s largest multinational grains exporters late last month as part of a probe into alleged evasion.

The raids on 165 premises, which involved 1,200 tax agents, were similar to an offensive launched by the AFIP in early March, when it accused companies of evading some $36 million in taxes.

Argentina’s centre-left government has been investigating major grains exporters since last year. A court indicted two executives of Cargill, the country’s top soymeal and soy-oil exporter, on evasion charges in October.

Inspectors also raided Bunge premises during the same month over an alleged income tax evasion totalling $300 million.

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