ANNOUNCEMENT 14 Jun 2011In June 2011, the government of Venezuela announced a targeted tax change.
NUMBER OF INTERVENTIONS
Presidential decree No. 8.279 of 2011 (in Spanish),
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.