ANNOUNCED AS TEMPORARYNo
Tax or social insurance relief
On 14 June 2011, the President of the Republic, Hugo Chavez Frias, adopted Decree No. 8.279 which temporarily eliminates the Value Added Tax (VAT) on imports of various polymers, acyclic hydrocarbons and other hydrocarbon derivatives for use exclusively in the petrochemical industry.
This measure entered into force on the same day for the period of two years.
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