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MarketWatch: Royal Dutch Shell pays Venezuela $13.7 million in tax claims

By Peter Millard

CARACAS (MarketWatch) — Royal Dutch Shell PLC has paid Venezuela $13.7 million in income taxes that went unpaid during the 2005 fiscal year, said the Seniat tax office in a statement Monday.

The Seniat said it charged Shell additional taxes because the company inflated some of its costs in Venezuela. Venezuela began auditing foreign oil companies in 2004, accusing them of underpaying on their income taxes.

Shell has a minority stake in the Urdaneta oil field in western Venezuela.

-Contact: 201-938-5400 
Last Update: 7:34 PM ET Apr 9, 2007

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