Companies / Venezuela
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Venezuela Closes, Reopens Glaxo Unit
March 2006 | Company Finance AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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According to local media reports, Venezuelan tax inspectorate Seniat closed the local subsidiary of UK drug major GlaxoSmithKline (GSK), before allowing the unit to reopen two days later. Venezuela is currently stepping up a campaign to collect unpaid taxes. Seniat has reportedly imposed a VEB84.6mn (US$33,800) fine on GSK in relation to the alleged irregularities.