Venezuela Tax Chief Reports Oil Back Taxes

Associate Press
January 17, 2006

Foreign oil companies in Venezuela paid 270 billion bolivars ($125.6 million) in back taxes last year, the country's tax chief said Monday. The government has sought to increase its revenues from the oil industry, conducting an audit of private companies operating 32 oil fields to reclaim what it says are billions of dollars in unpaid taxes.

Click here to read article.