ANNOUNCEMENT 21 Sep 2010

In September 2010, the government of Venezuela announced a targeted tax change.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE



Presidential decree No. 7.688 of 2010 (in Spanish),
http://www.tsj.gov.ve/gaceta/septiembre/2292010/2292010-2956.pdf#page=1
Presidential decree No. 8.245 of 2011 (in Spanish),
http://www.tsj.gov.ve/gaceta/mayo/2452011/2452011-3145.pdf#page=3


Inception date: 01 Aug 2010 | Removal date: 31 Jul 2013
Still in force

Tax or social insurance relief

On 21 September 2010, the President of the Republic, Hugo Chavez Frias, adopted Decree No. 7.688 which temporarily eliminates the Value Added Tax (VAT) on imports of housing equipment such as refrigerators, washing machines, dryers, air conditioners and etc.
 
This measure entered into force retroactively on 1 August 2010 for the period of one year.
 
On 24 May 2011, the President of the Republic, Hugo Chavez Frias, adopted Decree No. 8.245 which extended the previous measure for two more years.