ANNOUNCEMENT 31 Aug 2012

In August 2012, the government of Venezuela announced a change in the tax legislation for exporters.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Resolution No. 3248 of 31 August 2012, published in the Official Gazette no. 39.999 of 3 September 2012:
http://www.cpzulia.org/ARCHIVOS/MPPPF_Resolucion_3248_Certificados_Especiales_de_Reintegro_Tributario_03_09_12.pdf

Travieso Evans Arria Rengel & Paz, Venezuela Legal and Economic Newsletter of September 2012: http://www.traviesoevans.com/newsletter/09-newsletter-september-2012-ing.pdf


Inception date: 03 Sep 2012 | Removal date: open ended

Tax-based export incentive

On 31 August 2012, Venezuela's Ministry of Planning and Finance (Ministerio del Poder Popular de Planificación y Finanzas) adopted Resolution No. 3248 introducing a tax refund regime entitled CERT (Certificados Especiales de Reintegro Tributario) of VEF 800 million (approx. USD 127 million) directed towards Venezuelan exporters in general.
 
This measure entered into force on 3 September 2012.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A