Venezuela announced it published Decree No. 4.967 in the Official Gazette on 28 June, 2024.
The Decree clarifies the extension of the temporary exemption from VAT and customs duty on the importation of specific goods. The exemption follows Decree No. 4.907 from 1 January to 30 June 2024.
The Decree offers a 90% exemption of the import tax and 90% of VAT for definitive imports of over 1,500 new or used tangible goods by legal entities, individuals, and government agencies such as the National Public Administration.
To qualify the exemption the imported goods must be primarily for raw materials and inputs and must meet the requirements as mentioned in the Decree.
This exemption also covers 441 goods, which is contingent upon obtaining a “Certificate of No National Production” or “Insufficient National Production” issued by the Ministry responsible for industries and national production.
Furthermore, the exemptions apply to 166 goods imported by the Corporación Venezolana de Guayana, and 260 new or used tangible goods by the Ministry of Water Services.
Exemptions also apply to goods imported by entities such as the Corporación Socialista del Cemento, and the Corporación Venezolana de Comercio Exterior.
VAT exemptions have been extended until 31 August, 2024.
