ANNOUNCEMENT 29 May 2020
The Venezuelan government eliminated the VAT and the "Fee for Determination of the Customs Regime" from all fuel imports.
NUMBER OF INTERVENTIONS
Official Gazette of Venezuela. Gaceta Oficial de la República Bolivariana de Venezuela. AÑO CXLVII - MES VIII. Caracas, viernes 29 de mayo de 2020. Número 41.890. Decreto N° 4.220. Available at: https://www.aporrea.org/media/2020/06/go-41-890.pdf
On 29 May 2020, the Executive of Venezuela adopted Decree Nº 4.220 eliminating the VAT and the "Fee for Determination of the Customs Regime" on imports of fuels.
In the case of VAT, the previous applicable value was 16%.
The new regulation entered into force on 29 May 2020.