Venezuela: Harvest is a longtime tax evader

[Judi Lynn]

Aug. 3, 2005, 12:02AM

Venezuela: Harvest is a longtime tax evader
Associated Press

CARACAS, VENEZUELA - Houston-based oil company Harvest Natural Resources has been evading Venezuelan taxes for years and must pay a $94 million claim or face legal repercussions, Venezuela's tax chief said Tuesday.

Harvest Chief Executive Officer Peter Hill said Monday that the company will take the case to international arbitration if necessary.

"Harvest needs to assume the legal consequences in Venezuela" if it refuses to pay, tax chief Jose Vielma Mora said Tuesday. "That company is evading taxes and setting a bad example."

The tax agency sent the company the $94 million claim on July 25 for taxes that went unpaid from 2001 to 2004, including a 10 percent penalty. Harvest pumps 21,000 barrels a day at Venezuela's South Monagas oil fields, the company's only source of income.
(snip)

The tax agency has not received a request for international arbitration from Harvest, but Vielma Mora said his office is prepared for a "tax war."
(snip/...)

http://www.chron.com/cs/CDA/ssistory.mpl/business/3293530
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[bluestateguy]

1. We must STOP the dictator of Venezuela now!!

And project American power in Latin America. If we don't stop communism in Venezuela they'll be on the US-Mexico border in no time!

On a serious note, there are a lot of Venezuelans in the town in which I live. Most of whom are from well-to-do families. They whine about Chavez all the time. A bunch of spoiled brats.

[jody]

2. "international arbitration"? That's a major weakness with NAFTA, CAFTA,

and other FTA. Under NAFTA and CAFTA, a arbitration panel replaces SCOTUS as the ultimate judicial body. When Clinton signed NAFTA and Bush signed CAFTA, they gave away our sovereignty.
:puke:

[sadiesworld]

3. That's part of the reason why I can't get overly worked up about

the Roberts' nomination. It feels like so much rearranging of the deck chairs.