Venezuela Demands Back Taxes From 3 Foreign Oil Companies

Venezuela demands back taxes from 3 foreign oil companies

http://news.xinhuanet.com/english/20...nt_3990479.htm

www.chinaview.cn 2005-12-30 19:00:36

CARACAS, Dec. 30 (Xinhuanet) -- Venezuela's tax office has demanded millions of U.S. dollars in back taxes from three foreignoil companies, the state news agency ABN reported on Friday.

According to ABN, the three foreign companies are France's Total, Spain's Repsol and Janpan's Teikoku. They were demanded to pay a total of 223 million U.S. dollars in back taxes.

Among the companies, the Venezuelan National Customs and Tax Administration (Seniat) demanded 107 million dollars from Total, 113 million from Repsol and three million from Teikoku.

Officials from Seniat also mentioned that five other foreign oil companies would be demanded for back payments in January.

As the world's fifth largest oil producer, Venezuela adopted a Zero-Evasion Plan last year, as part of the nation's anti-tax evasion efforts.