Argentine Tax Agency Targets Cargill, ADM in Evasion Probe
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Archer-Daniels-Midland Co. and Cargill Inc. may be prevented from shipping grains from Argentina after the government stripped them of their status as registered exporters amid a dispute over taxes.
ADM, Cargill and a third exporter, Alfred C Toepfer International BV, were temporarily removed from a registry of cereals exporters, according to a statement today in the official gazette. The move limits the number of transport permits they are eligible for, and a permanent suspension would boost income taxes to up to 15 percent from 2 percent, the agency known as AFIP said yesterday in an e-mailed statement.