Suspended in Argentina

Argentina has banned the consumer products giant Procter & Gamble (P&G) from doing business in the country, accusing the firm of tax fraud.

A statement on the presidential website, published on Sunday, said P&G had inflated the price of imports by $138m (£87m) in an effort to get money out of the South American country.

It also accused the firm of attempting to avoid taxes.

P&G said it was working to understand and resolve the allegations.

"We don't pursue aggressive tax/fiscal planning practices as they simply don't produce sustainable results," said P&G spokesman Paul Fox.

The alleged fraud involves shipments of razors and other hygiene products.

In a recent statement, the AFIP tax agency accused the company of over-billing $138 million in imports to funnel money out of the country and hide taxable income.

AFIP head Ricardo Echegaray said global companies can't keep "cheating the state". A company spokesperson said P&G is currently working to understand and resolve the allegations.

The statement, published on behalf of Argentina's Federal Administration of Public Revenue (Afip), added that details of the alleged fraud have been sent to its counterpart in the US - the Securities and Exchange Commission.

The Securities and Exchange Commission (SEC) is an independent agency of the United States federal government.

It holds primary responsibility for enforcing the federal securities laws, proposing securities rules, and regulating the securities industry, the nation's stock and options exchanges, and other activities and organizations, including the electronic securities markets in the United States.

P&G has been operating in Argentina since 1991 and currently runs three manufacturing plants and two distribution centers in the country.

Procter & Gamble Co., also known as P&G, is an American multinational consumer goods company headquartered in downtown Cincinnati, Ohio, United States, founded by William Procter and James Gamble, both from the United Kingdom.

What is interesting here is that the mindset of management is to make money regardless of the cost to other, including countries.  And, we Americans continue to wonder why the rest of the world always seems to be angry with us.