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P&G Banned in Argentina

Business halted due to tax issues.

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By: Jamie Matusow

Editor-in-Chief

 
Argentina has reportedly put a hold on Procter & Gamble’s business there, accusing the consumer products giant of an attempt to avoid paying taxes. P&G had also allegedly inflated the price of imports by nearly $140 million in an effort to get money out of the South American country.
 
The alleged fraud involves shipments of razors and other hygiene products.
 
The news comes according to a statement published by Argentina’s Federal Administration of Public Revenue, which said that details of the alleged fraud have been sent to the Securities and Exchange Commission in the U.S.
 
P&G has been operating in Argentina since 1991 and now operates three manufacturing plants and two distribution centers there.
 

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