Beleaguered Dutch retailer Ahold is facing another obstacle to its planned sale of its Argentine subsidiary Disco.
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Argentine tax authorities have asked that Ahold pay €45m (US$49.4m) in tax for bonds it issued between 1998 and 2002.
Ahold said it would contest the decision by the tax authorities to impose the charge on Disco, reported Reuters.
“The Argentine tax office is saying that Disco should have paid taxes and interest on the bonds issued, but we are challenging that,” Ahold spokesman Walter Samuels said.
Ahold is in the process of selling its operations in Argentina, Brazil, Chile, Paraguay and Peru in order to pay down debt.
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By GlobalDataSamuels denied media reports that the Argentine tax authorities would block the sale of Disco. “It’s complete rubbish that a sale would be blocked,” Samuels said.
A source at the Argentine tax office, however, told Reuters that he did not know if the tax dispute could block the sale, but said either party could take the other to court in Argentina if the matter is not resolved.
