ANNOUNCEMENT 13 Dec 2011In December 2011, the government of Venezuela announced a change to the import-specific domestic duties.
NUMBER OF INTERVENTIONS
Presidential decree No. 8.699 of 2011 (in Spanish),
On 13 December 2011, the President of the Republic, Hugo Chavez Frias, adopted Decree No. 8.699 which temporarily eliminates the Value Added Tax (VAT) on imports of rubber, iron, steel and glass products, electric equipment, and other machinery for use exclusively in the construction sector.
This measure entered into force on the same day for the period of two years.