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Latest Business News

Venezuela's Tax Agency to Claim Back Taxes

Monday, October 17, 2005 9:04:25 PM

CARACAS, Venezuela (AP) - Venezuela's tax agency is preparing to claim back taxes from four more private oil companies with plans to expand that claim to all firms pumping crude under contract, including large foreign producers.

"We have given (tax) claims to three companies, but seven of them are now informed about this initiative ... We're going to look at all of them," Jose Vielma Mora, head of the Seniat tax agency, told reporters.

Seniat has already sent tax claims totaling $240 million to Italian oil company ENI SpA, Royal Dutch Shell PLC, and the U.S. firm Harvest Natural Resources Inc. as part of an industrywide tax audit. All three have contested the bills, though Harvest has paid a part of the amount owed.


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