Argentina Targets Monsanto
Wed Oct 10, 2012 05:09 PM CDT

BUENOS AIRES (Dow Jones) -- Argentina has targeted one of the country's top seed providers following investigations of what the government says is rampant tax evasion in the farm sector.

On Wednesday, the federal tax agency, Afip, suspended the local subsidiary of agriculture biotechnology company Monsanto Co. from its registry of grain traders.

Exclusion from the registry means the income tax withheld on domestic grain trading rises to 15% from 2%, as well as the withholding of a 10.5% sales tax. The affected companies also face new, burdensome approval requirements for domestic shipping permits.

Monsanto's Argentine unit evaded $70 million ...

Quick View
Related News Stories
Argentine Farmers Plant Defensively