IBM OFFICE SHUTDOWN IN VENEZUELA

IBM office shutdown in Venezuela
October 2005 – Caracas
(VNZ): The Venezuelan tax agency Seniat has ordered the 48-hour
shutdown of IBM’s office in Caracas, due to book-keeping irregularities
related to value-added tax (VAT), the agency said.
The agency has imposed fines and ordered the temporary closure of
several foreign companies, pursuing an aggressive “zero evasion”
campaign to collect taxes the government claims have not been
paid.