The firms under investigation include Cargill and Bunge, which are both based in the United States, Nidera of the Netherlands and the Hong Kong registered Noble Group. Collectively, the companies have been accused of evading 150 million pesos – about £23 million – in taxes.
The government says grain companies evade taxes by “triangulating” their exports – selling the product below market price to a shell company in neighbouring Uruguay before selling it on – at the full market price – to customers around the world.
President Cristina Kirchner, in her annual address to Congress, urged deputies to impose harsh new criminal penalties “so that tax evaders go to jail”. She outlined plans to increase social spending when foreign companies “pay what is due”.
