Shell Pays Venezuelan Tax Authority US$13.7mn

The Venezuelan unit of Anglo-Dutch oil major Shell (NYSE: RDS-B) has paid tax agency Seniat 29.4bn bolivares (US$13.7mn) for a discrepancy in its 2005 tax filing, Seniat said in a statement.

Specifically, Seniat objected to the way some loans between the subsidiary and its HQ were being conducted, a Seniat official told BNamericas.

Seniat has filed similar claims for hundreds of millions of dollars against several foreign and domestic oil companies in Venezuela as part of a tax crackdown that started in 2005.

The original claim by Seniat against Shell was for 38.1bn bolivares. Seniat is still discussing the balance with Shell since it does not pertain to the internal loans.

Shell officials in Caracas declined to comment for this article.

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