Subway forced to close outlets in Venezuela

By: trademagazin Date: 2008. 10. 22. 00:00

Sandwich chain Subway, which has 125 outlets in Venezuela, has been ordered to close 69 restaurants in the country by the National Integrated Service of Customs and Tax Administration (Seniat).

 In a press release, Seniat accused
Subway of breaches in the accounting books of sales and purchases of
the Value Added Tax (IVA), which under article 102 of the Organic Tax
Code, have been classified as illegal tax. Around half of the
closures have come in the capital region of Caracas and the rest in
seven other states. Venezuela’s tax body also recently ordered
McDonald’s to close all of its 115 outlets in Venezuela for 48
hours following alleged tax irregularities.


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