For 2nd time in month, Argentine agents search agribusiness companies in tax evasion probe
2011-04-29 12:09:49
Argentina — For the second time in just over a month, Argentine officials searched the offices of major multinational agribusinesses Thursday as part of an investigation into alleged tax evasion.
The government has accused dozens of companies of hiding millions of dollars in profits from the sale of Argentine grain by using shell companies and questionable transactions.
The Federal Administration of Public Revenue said 1,200 inspectors served 165 search warrants Thursday to collect information at offices of companies including U.S.-based Cargill Inc., Nidera SA of the Netherlands, Noble Group Ltd. of Hong Kong and Grupo Los Grobo of Argentina.
Officials of the companies declined to comment about the raids.
The tax agency's statement said the companies being searched were suspected of evading about $72 million in taxes. It did not say how many companies were involved in Thursday's operation.
On March 2, the agency sent agents to 48 agribusiness companies to investigate what it described then as the suspected evasion of $36 million in taxes.
The agency said then that the agribusiness companies have hidden profits on grain sales by creating fraudulent documents, including nonexistent companies under the names of front men, people with few economic resources and even dead people.
Argentina is the world's second-biggest exporter of corn and the No. 3 exporter of soybeans.