Venezuela's tax agency Seniat decided on September 26 to sanction local telecoms operator Movistar, owned by Spanish giant Telefonica, due to irregularities in tax payments, Seniat said in a statement.
Seniat decided to close Movistar's headquarters in capital Caracas and its 32 corporate offices across the country for a 48-hour period starting September 26. During the period, the company is not allowed to make commercial transactions. Movistar will also have to pay a fine of 940,800 boliÂvares (US$438).
Seniat found irregularities in the company's tax payments during the March-August period.
According to Seniat, the company will be allowed to continue providing normal telephony services during the sanction period.
The action was taken in the framework of a government tax evasion control program for corporations called Plan Evasion Cero.
According to regulator Conatel, Movistar ended July leading the mobile market with a 41.6% market share followed by Movilnet, owned by state-owned telco Cantv, with 40.8%.
Posted to the site on 28th September 2007
Posted to: www.cellular-news.com/story/26349.php