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According to Afip, Bunge bilked the state out of more than 435 million pesos ($93 million) in taxes in 2006 and 2007.Argentina has affirmed the suspension of international grain trader Bunge Ltd.’s local subsidiary from a key grain registry due to tax evasion charges.
The company, one of Argentina’s leading grain exporters, was included in a list of grain storage operators suspended from the registry published in the official bulletin Monday.
Exclusion from the registry means the income tax withheld on domestic grain trades rises from 2% to 15% and imposes the withholding of a 10.5% sales tax. The affected firms also face new, burdensome approval requirements imposed for domestic shipping permits.
A host of the country’s top grain traders, including Bunge, Molinos Rio de La Plata SA , Louis Dreyfus and Oleaginosa Moreno, were suspended from the registry due to accusations of evading taxes by triangulating their grain trading operations through other countries.
In 2010, the federal tax agency Afip accused four of the country’s 10 largest grain exporters of using shell companies in neighboring Uruguay for accounting purposes that left minimal profits on...
Built in South Korea in 2009 and operated by the Mediterranean Shipping Co. of Switzerland, the Beatrice is the latest of the new generation of big container ships to be put into service on U.S.-Asia trade routes. It is due to depart Long Beach on Wednesday for the Port of Oakland.
The largest container ship to visit North America docked Sunday at the Port of Long Beach.
The MSC Beatrice – at 1,200 feet long, 167 feet wide and capable of carrying 13,798 container units – docked in the early morning at Long Beach’s Pier T on Terminal Island.
Until this year, the largest container ships serving North America had capacities of about 10,000 “TEUs,” or twenty-foot equivalent units. Ships carrying up to 12,500 TEUs began calling at the Port of Long Beach early this year. The Port of Long Beach’s main channel is 76 feet deep, the deepest in North America, according to port officials.
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Ken Riley, left, an International Longshoremen's Association Vice President and President of Local 1422, came to support ILWU International President Bob McEllrath at the Cowlitz County Hall of Justice last year. On Friday, a District Court judge sentenced Pres. McEllrath to one day in jail and 89 days suspended, plus a $500 fine. Photo by Don Ryan/AP.
From the Oregonian:
Northwest grain handlers announced that contract talks facing a Sunday deadline would extend into mid October, avoiding a lockout of longshoremen at Portland and Puget Sound terminals that handle almost half the nation’s wheat exports.
But almost simultaneously Friday, longshoremen walked out at the Port of Portland’s container Terminal 6 and perhaps some other West Coast ports, protesting a guilty verdict for union President Robert “Big Bob” McEllrath. A Cowlitz County, Wash., jury found McEllrath guilty of obstructing a train last year during a protest in Longview, Wash.
“I have no regrets for leading my men and women against corporate greed,” McEllrath was quoted as saying. “What’s happening in this country against the middle class is wrong.”
In statements posted Friday on the...
Source: Seattle Times
Source: Coup Four and a Half
Source: FijiVillage
Source: Coup Four and a Half
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