Bolivia
News

Oil companies to abide by court decision over US$19mn tax dispute

Bnamericas Published: Tuesday, June 24, 2003
Bolivia's oil companies will abide by the final decision of local courts over a tax dispute with the National Tax Service (SIN), according to local newspapers. The SIN claims the oil companies should be paying the 1.5% tax on financial transactions and in recent days, finance minister Javier Comboni accused "some oil companies" of avoiding taxes. SIN has taken six companies to court to recover some US$19mn in back taxes: Pecom Energia, Petrolera Chaco, Petrolera Andina, Maxus Bolivia, Flamagas and BG Bolivia. The oil companies claim they do not have to pay the tax, and claim state oil company YPFB, the Tax Norms Institute and the Hydrocarbons Ministry all back their position. The Bolivian Hydrocarbons Chamber, which represents the interests of oil companies operating in Bolivia, rejected the accusations, saying none of the companies have been found guilty of any tax evasion. The CBH said the companies were prepared to pay up if they lose their case in court. "The companies are sure about the position they have taken and will submit themselves to what the law determines," the CBH said.

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: Oil & Gas (Bolivia)

Get critical information about thousands of Oil & Gas projects in Latin America: what stages they're in, capex, related companies, contacts and more.

  • Project: Aquío area
  • Current stage: Blurred
  • Updated: 9 months ago
  • Project: Ipati area
  • Current stage: Blurred
  • Updated: 9 months ago
  • Project: Caigua field
  • Current stage: Blurred
  • Updated: 9 months ago
  • Project: Block Azero
  • Current stage: Blurred
  • Updated: 2 years ago

Other companies in: Oil & Gas

Get critical information about thousands of Oil & Gas companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Echo Energy Plc  (Echo Energy)
  • Echo Energy plc (Echo), founded in 2005 and headquartered in London, England, is a mid-cap gas exploration company focused in South and Central America. In Bolivia, Echo has a J...
  • Company: Equinor ASA  (Equinor)
  • Norway's Equinor, formerly Statoil ASA, is an integrated energy company that is primarily engaged in oil and gas exploration and production. Equinor is present in more than 30 c...
  • Company: Duro Felguera, S.A.  (Duro Felguera)
  • Duro Felguera, S.A. (DF) is a Spanish company specializing in executing turnkey projects for the electric power, industrial, and oil and gas sectors, as well as supplying specia...
  • Company: BP Trinidad and Tobago, LLC  (bpTT)
  • BP Trinidad and Tobago LLC (bpTT) is a Trinidadian subsidiary of the British oil company BP P.L.C., established in 1961 with headquarters in Port of Spain to explore, produce an...