CARACAS, Venezuela (AFX) - Venezuela's tax agency said Monday it fined two U.S. oil service companies and temporarily closed the offices of one for bookkeeping irregularities.
Tax authorities fined the Venezuelan unit of New York-based Schlumberger Ltd., the world's largest oil field services company, and M-I Swaco, a drill supply company based in Houston.
They also forced the closure of M-I Swaco's Venezuelan offices for 48 hours, the agency said in a statement.
Tax authorities made the move after both companies allegedly failed to accurately follow value-added and income tax laws, the statement said.
The combined fine was about $25,000, the agency said.
Tax collection has risen dramatically under President Hugo Chavez due to an aggressive campaign that has included fines and temporary company closures.
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