Bolivia

Venezuela

Trinidad
&
Caribbean

Venezuela says issues Pride $32.5 million back-tax demand

 

Platts
Caracas
Petroleumworld.com 01 31 06

Venezuela's Seniat tax authority has levied on US oil service company
Pride International a back-tax charge of $32.5 million (70 billion Bolivars)
for income tax irregularities in 2002, the agency said Monday.

Irregularities occurred in the company's reporting of costs, expenditure
and losses, Seniat said in a statement.

Under the government of President Hugo Chavez, Venezuela is seeking to
regain control over oil resources operated by foreign partners and maximize
fiscal contributions from oil companies.

--Jens Erik Gould, newsdesk@platts.com

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Platts 30 01 07

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