ANNOUNCEMENT 06 Jan 2014

In January 2014, the government of Venezuela announced a targeted tax change.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE



Decree no. 726 of 6 January 2014, published in Official Gazette no. 40.328 of 7January 2014 (in Spanish): http://www.tsj.gov.ve/gaceta/enero/712014/712014-3882.pdf#page=1

Venezuela al D?a, news item of 8 January 2014 (in Spanish): http://www.venezuelaaldia.com/2014/01/exonerados-del-pago-de-iva-las-importaciones-de-12-000-vehiculos-chery/


Inception date: 07 Jan 2014 | Removal date: 31 Dec 2014
Still in force

Tax or social insurance relief

On 6 January 2014, the President of the Republic, Nicolas Maduro, adopted Decree no. 726 which temporarily eliminates the Value Added Tax (VAT) on imports of cars belonging to Chinese car manufacturer Chery. The VAT exemption is limited to 12.000 cars. The measure entered into force on 7 January 2014 and lasts for a year.

AFFECTED SECTORS