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Venezuela tax office threatens to halt Shell ops over 130 mln usd tax – report

AFX Europe (Focus): Venezuela tax office threatens to halt Shell ops over 130 mln usd tax – report

“Venezuela’s Seniat tax office has threatened to halt production at Royal Dutch Shell…”: “The Seniat previously ordered the temporary suspension of Royal Dutch Shell’s administrative activities in the country over VAT irregularities and requested from a local court an injunction to impound Shell’s “assets and rights”…:

Friday September 30, 2005

CARACAS (AFX) – Venezuela’s Seniat tax office has threatened to halt production at Royal Dutch Shell and other oil companies sites, reports Venezuela’s El Universal.

Head of Seniat Jesus Vielma Mora says these oil companies have refused to pay a new energy tax, approved in 2001.

Seniat is demanding 130 mln usd, the highest asked from foreign oil companies, for back taxes between 2001-04.

The Seniat previously ordered the temporary suspension of Royal Dutch Shell’s administrative activities in the country over VAT irregularities and requested from a local court an injunction to impound Shell’s “assets and rights” for the amount of 280 bln bolivars (around 130 mln usd) as part of its attempt to recover these back taxes.

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