Economy / Venezuela
Chávez Declares New Tax On Oil Profits
March 2008 | Industry NewsIn a further blow to foreign investors in its oil industry, Venezuela is planning to impose a new tax on oil profits as part of its efforts to boost the government's take from crude production. In a televised announcement, President Hugo Chávez called the new levy a tax on 'unexpected earnings' caused by the rapid rise of crude prices to more than US$100 per barrel (bbl).
Sorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
If you would like to subscribe to Americas Oil and Gas Insight and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Americas Oil and Gas Insight please click on the trial link below.
