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Venezuela: Pfizer pays $17M debt to tax agency

Venezuela: Pfizer pays $17M debt to tax agency

Venezuela's tax agency says Pfizer Inc. has paid $17 million in back taxes and interest.
The agency says an audit showed the New York-based medicine maker had failed to report income, among other things.
Pfizer spokeswoman Tyrene Frederick-Mack confirmed the payment on Tuesday. She said it was made following a standard review of Pfizer's acquisition of pharmaceutical companies, including the 2003 purchase of Pharmacia Corp.
The announcement comes as President Hugo Chavez's government threatens to seize one of Pfizer's two medicine plants in Venezuela.
Pfizer says it is in talks with the government to sell the plant, which was shuttered in May as part of a global consolidation of manufacturing facilities.


Updated : 2021-03-09 03:57 GMT+08:00