Argentina put on hold Procter & Gamble factories. As BBC News informs, the situation is reasoned by the accusations in tax evasion.
According to the federal taxation office, the company over reported imports by $138 billion to avoid taxation and draw money out of the country.
Meanwhile the company board disagrees with accusations. “We do not approve of the aggressive taxation methods as they simply bring no stable results,” commented Paul Fox from P&G.
The U.S. Procter & Gamble was established in 1837 and has now headquarters in more than 180 countries over the world. In 1991 the company has launched production in Argentina with three factories and two storages.
P&G makes household chemical goods branded Gillette, Pantene, Duracell, Ariel, Pampers etc. In 2013 the total revenue of the corporation in the Latin American countries equaled $83 billion.
