Venezuela: Exxon Owes $3.8M in Taxes

The Associated Press

CARACAS, Venezuela — Venezuela said Friday that Irving, Texas-based oil company Exxon Mobil Corp. owes $3.8 million in back taxes.

Venezuela's tax agency said in a statement that the bill is related to unpaid income taxes from 2002.

It also said it has fined the company for failing to provide information on time and "obstructing" it from calculating taxes, but did not say how much.

President Hugo Chavez's administration has accused foreign oil companies of underpaying taxes for years and is conducting a review of the industry. The government says it could be owed billions of dollars in unpaid taxes.