Venezuelan tax agency suts down IBM

Venezuela’s tax agency said that it had imposed fines and ordered the temporary closure of several foreign companies, including International Business Machines, due to tax irregularities.

The Seniat agency ordered the 48-hour shutdown of US computer company IBM’s office in Caracas, as well as car parts company Bosch Rexroth, for book-keeping irregularities related to the value added tax, the agency said in a statement.

Others such as Microsoft, Honda, Nokia, Ericsson, Siemens and Colombina will face closures ranging from 24 to 48 hours, as well as fines, it said.