June 30, 2006
Venezuela receives $266 million in back taxes

(Offshore staff) - "The country's tax authority Seniat reports that nearly 20 oil companies have paid roughly $226 million in back taxes in response to a retroactive tax increase for 2001-04.

This figure is expected to rise to nearly $400 million soon as more companies pay in coming days, according to Seniat Special Taxes Manager José Joaquín Cedillo.

Seniat claims that oil companies owe a total of nearly $750 million for the 2001-04 period (...)".