Reuters
The United States Department of the Treasury stated on Wednesday that companies operating in the Venezuelan oil sector must pay taxes, permits, and local fees to the Venezuelan government, while royalties and federal taxes must be deposited into a fund managed by the United States. By Reuters The Treasury indicated that [...]
TL;DR
- U.S. Treasury dictates payment structures for Venezuelan oil companies.
- Local taxes, permits, and fees are to be paid to the Venezuelan government.
- Royalties and federal taxes must be deposited into a fund managed by the U.S.
- This guidance relates to two general licenses issued in February.
- The licenses eased sanctions on Venezuelan oil exports and authorized U.S. goods/services for oil and gas operations in Venezuela.