ANNOUNCEMENT 19 Dec 2013In December 2013, the government of Venezuela announced a change to the import-specific domestic duties.
NUMBER OF INTERVENTIONS
Decree no. 694 of 19 December 2013, published in Official Gazette no. 40.337 of 20 January 2014 (in Spanish): http://www.tsj.gov.ve/gaceta/enero/2012014/2012014-3891.pdf#page=2
Venezuela al D?a, news item of 21 January 2014 (in Spanish): http://www.venezuelaaldia.com/2014/01/exoneraran-del-pago-del-iva-1564-empresas-de-varios-sectores/
On 19 December 2013, the President of the Republic, Nicolas Maduro, adopted Decree no. 694 which temporarily eliminates the Value Added Tax (VAT) on imports of various goods belonging to the sector of capital goods, information technology, manufacturing, and construction.
The measure entered into force on 20 January 2014 and limits the VAT exemption for each importing company to three years.
The measure has been classified as green, since it reduces discrimination against foreign commercial interests (albeit only up to 3 years.)