Venezuela’s tax and customs administration (SENIAT) has declared changes to both versions of its automated customs system (Sistema Aduanero Automatizado or SIDUNEA) naming S++ and SW under foreign exchange agreements that is used to determine the tax base involving imported merchandise. The SIDUNEA system only allows one exchange rate per customs return. So when the import operation explains the use of more than one exchange rate, the customs agent must use a single customs return per each exchange rate
At last, importers must specify in Field 22 of the customs form (DUA), the corresponding code (USD, SI1 and SI2) for the applicable exchange rate and the methods used to obtain the foreign currency exchange rate (i.e., the “national center for international trade” (CENCOEX) and the “supplementary system for the administration of foreign currency” SICAD I and SICAD II) and the exchange rate that is determined must be according to the rules for the source of the foreign currency as highlighted in Field 39 of the DUA.
