ANNOUNCEMENT 21 Sep 2010In September 2010, the government of Venezuela announced a targeted tax change.
NUMBER OF INTERVENTIONS
Presidential decree No. 7.688 of 2010 (in Spanish),
Presidential decree No. 8.245 of 2011 (in Spanish),
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.