Another global company has come under the microscope for a being a tax resident in Bermuda a company already mired in controversy.The Irish Times reported that Monsanto Finance Holdings Ltd, an Irish-incorporated company with an address on Lower Hatch Street, Dublin, made a profit of €2.5 million in 2012 but paid no tax, according to accounts just filed.“The firm made a profit of €3.69 million in 2011, when it again paid no tax,” the Times said. “Monsanto Finance Holdings is ‘exempt from all forms of taxation including income, capital gains and withholding taxes as it is tax resident in Bermuda’, the accounts state. The firm has no employees and its three directors have addresses in Bermuda.”The report added the firm’s balance sheet shows that at the end of August 2012 it had financial assets of €50.8 million. Accumulated profits at that stage were €53.3 million and shareholders’ funds were €103 million.The firm is owned by a Monsanto company based in Switzerland, and is ultimately owned by Monsanto of St Louis, Missouri, US.The agricultural product company Monsanto produces genetically engineered seeds used by farmers for their pest resistance and ability to produce bigger crops.The crops have drawn criticism from organic food advocates who say they are harmful to people and the environment. But Monsanto has maintained that its seeds improve agriculture by helping farmers produce more from their land while conserving resources such as water and energy.