ADM and Cargill have been removed from an Argentinian export registry, limiting their transport permits.
Archer-Daniels-Midland Co. (ADM) 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.
The companies, which are being investigated as part of a probe that started at least five months ago, are accused of failing to meet all their tax obligations, according to the AFIP agency. In October, Bunge Ltd. (BG) was accused of underpaying 1 billion pesos ($248 million) in taxes and two Cargill executives were charged with tax evasion.
ADM, Cargill and Toepfer “used tax havens and financial operations abroad” to evade taxes, AFIP said. Last year, the agency said Bunge and Cargill improperly declared exports from Argentina to Uruguay, which has lower taxes because of a trade agreement to the two countries. The two companies denied any wrongdoing.