Post by RPankn on Feb 6, 2005 1:18:33 GMT -5
02.05.2005, 08:19 PM
Venezuela's tax agency ordered the three-day closing of all 80 McDonald's restaurants in the country as a penalty for failing to follow tax rules, the state news agency reported.
Tax officials found inconsistencies between the company's purchases and sales records, the state-run Bolivarian News Agency reported late Friday.
Tax official Lucila Ascanio told the news agency the action was part of the tax agency's "zero evasion" effort to make sure individuals and businesses are in compliance with the law.
The closing apparently took effect immediately and was to last through the weekend. McDonald's employees were seen standing about and sweeping the walkway outside one closed restaurant in Caracas.
McDonald's representatives could not immediately be reached for comment on the closing of the franchises.
President Hugo Chavez has taken a tough approach toward tax evasion and bookkeeping irregularities in recent years. The tax agency has fined and closed a number of domestic and foreign companies for failing to follow strict tax guidelines.
Other businesses that have been temporarily closed by the tax bureau include Lucent Technologies, supermarkets and mall shops.
Ascanio told the Bolivarian News Agency that more than 200 businesses were temporarily closed on Friday alone for apparent tax violations.
www.forbes.com/business/healthcare/feeds/ap/2005/02/05/ap1807481.html
Venezuela's tax agency ordered the three-day closing of all 80 McDonald's restaurants in the country as a penalty for failing to follow tax rules, the state news agency reported.
Tax officials found inconsistencies between the company's purchases and sales records, the state-run Bolivarian News Agency reported late Friday.
Tax official Lucila Ascanio told the news agency the action was part of the tax agency's "zero evasion" effort to make sure individuals and businesses are in compliance with the law.
The closing apparently took effect immediately and was to last through the weekend. McDonald's employees were seen standing about and sweeping the walkway outside one closed restaurant in Caracas.
McDonald's representatives could not immediately be reached for comment on the closing of the franchises.
President Hugo Chavez has taken a tough approach toward tax evasion and bookkeeping irregularities in recent years. The tax agency has fined and closed a number of domestic and foreign companies for failing to follow strict tax guidelines.
Other businesses that have been temporarily closed by the tax bureau include Lucent Technologies, supermarkets and mall shops.
Ascanio told the Bolivarian News Agency that more than 200 businesses were temporarily closed on Friday alone for apparent tax violations.
www.forbes.com/business/healthcare/feeds/ap/2005/02/05/ap1807481.html