Bunge says it is not under VAT fraud investigation

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The Hungarian unit of U.S. company Bunge, said in a statement on Friday that it has met in full its obligations under Hungarian tax requirements and is not the subject of any VAT fraud investigation, MTI reported.

Bunge issued the statement after Economy Ministry State Secretary András Tállai said Thursday that Bunge, which reported misdeeds concerning cooking oil trade to the tax authority (NAV) in September 2011, could be affected in trade transactions involving VAT fraud in grain trade. Tállai also noted that the company has had tax problems in other countries as well, referring to a report by Magyar Nemzet. Bunge said it did not wish to comment "on press reports based on allegations". 

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