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Bunge Owes $100 Million in Taxes for 2006-2007, Argentina Says

Aug. 10 (Bloomberg) -- Bunge Ltd., Argentina’s second-biggest corn exporter, owes about $100 million in taxes for fiscal 2006 and 2007, according to a claim by the country’s tax agency, the company said.

Last month, Bunge received a preliminary income tax audit report and claim from Argentina’s tax authorities for fiscal years 2006 and 2007, the White Plains, New York-based grain trader said in a securities filing Aug. 9.

Argentine tax authorities have inspected several Bunge locations in the country over the last year related to allegations and an investigation of tax evasion.

“While we believe that the allegations and claims against us are without merit, these matters are at a preliminary stage and therefore, we are, at this time, unable to predict their outcome,” the company said in the filing. Susan Burns, a Bunge spokeswoman, declined to provide further comment today.

The agency claims that Bunge owes “a bit less than $200 million” for 2008 and 2009, which was not included in the audit, according to a tax agency official who cannot be named under government policy.

The government previously claimed Bunge owed $250 million for 2007 through 2009.

To contact the reporter on this story: Shruti Date Singh in Chicago at ssingh28@bloomberg.net.

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net.

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