Procter & Gamble shut down in Argentina for alleged massive tax fraud scheme

‘The Argentine government is accusing household products manufacturing giant Procter & Gamble (P&G) of defrauding it out of taxes, and as such the mega-corporation’s operations in the South American nation have been suspended

A recent statement issued by Argentina’s taxing authority, the Federal Administration of Public Revenue (AFIP), announcing the action was unclear as to what exactly was meant by “suspended,” and Reuters said that P&G refused to comment on whether or not its operations had actually ceased.

The government is accusing the mega-corporation of over-billing $138 million in imports in order to move money out of the country, the statement — published on Argentina’s presidential website — said.’

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