Do commodity traders dodge taxes? I\’ve no idea.
Have commodity traders dodged Argentine taxes? Similarly, dunno.
The world\’s four largest grain traders, responsible for the vast majority of global corn, soya and wheat trading and processing, have been accused of large-scale tax evasion in a landmark series of cases being brought against them by the Argentinian government.
In an interview with the Guardian, Ricardo Echegaray, the head of Afip, the country\’s revenue and customs service, has given a detailed account of the charges his department is bringing against ADM, Bunge, Cargill and Dreyfus.
Thing is though, who do we believe?
We know absolutely that the Argentine Government are lying* poltroons**. So is it them or the grain traders being naughty boys this time?
*They are definitely lying about their inflation rate: their reason for doing so being that they\’ve got bonds where they have to pay inflation protected interest rates.
**They confiscated private pension plans to pay the State\’s debts. Yes, poltroons.