ANNOUNCED AS TEMPORARYNo
Internal taxation of imports
On 19 December 2013, the President of the Republic, Nicolas Maduro, adopted Decree no. 694 which temporarily eliminates the Value Added Tax (VAT) on imports of various goods belonging to the sector of capital goods, information technology, manufacturing, and construction.
The measure entered into force on 20 January 2014 and limits the VAT exemption for each importing company to three years.
The measure has been classified as green, since it reduces discrimination against foreign commercial interests (albeit only up to 3 years.)
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