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Oil companies that don't pay taxes must leave Venezuela

05/09/2005 4:05:29 AM PDT · by Flavius · 25 replies · 951+ views
ap ^ | Monday May 9, 2005 | ap-wire

CARACAS, Venezuela (AP) - President Hugo Chavez said Sunday that foreign oil companies operating in Venezuela must pay taxes he insists they owe, or else leave the country. "The companies must pay what they owe,'' Chavez said during his Sunday television and radio show. "If they don't pay, they must leave.'' Chavez said that many private oil companies have been evading taxes for years, and they must be charged retroactively with interest on any debts. Officials have said that many declare losses to avoid paying income tax. "It's not possible that an oil company can come here, pay 1 percent...

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