Seniat: ENI Owes US$6mn in Back Taxes

Italian oil company ENI (NYSE:E) owes Venezuela US$6mn in income taxes from fiscal year 2005, Venezuela's tax authority Seniat said in a statement.

Seniat increased tax rates for oil companies to 50% from 34% in 2005.

ENI refused to sign a JV with Venezuela's state oil firm PDVSA for its Dacion oil field, leading PDVSA to seize operations of the field this year.

BNamericas reported earlier this month ENI aims to take PDVSA before the International Center for Settlement of Investment Disputes (ICSID) over Dacion.

Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.


Our Privacy Pledge

Most Popular Articles

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours