On 8 May 2023, the National Integrated Service of Customs and Tax Administration (SENIAT) of Venezuela published Administrative Ruling SNAT/2023/000031 in the Official Gazette, which increases the value of tax units from VES 0.40 to VES 9.00 for the fiscal year 2023. The tax unit will serve solely as a measurement unit for calculating national tax payments. The Administrative Ruling entered into force on the same date of its publication.
Related Posts
Venezuela: SENIAT introduces new digital invoicing guidelines for businesses
January 10, 2025
The Venezuelan National Tax Authority (SENIAT) has introduced new guidelines under Administrative Ruling SENIAT/2024/000102 regarding digital invoicing. The update clarifies rules regarding the issuance of invoices and associated documents,
Read More
Venezuela further extends VAT, customs duty exemption on imports of certain goods
September 12, 2024
Venezuela has extended its VAT and customs duty exemptions on certain imports through Decree No. 4.985, published in the Official Gazette on 30 August 2024. This latest decree continues the exemptions initially granted by Decree No. 4.907, which
Read More Venezuela further extends VAT, customs duty exemption on imports of certain goods
September 12, 2024
Venezuela has extended its VAT and customs duty exemptions on certain imports through Decree No. 4.985, published in the Official Gazette on 30 August 2024. This latest decree continues the exemptions initially granted by Decree No. 4.907, which
Read More Venezuela grants one-year income tax exemption for cooperative associations
August 27, 2024
Venezuela's Official Gazette published Decree No. 4.976, introducing a one-year income tax exemption for cooperative associations on income earned within Venezuela on 12 August 2024. The exemption, effective from the date of publication and
Read More Venezuela implements 0% tax on select large financial transactions
July 26, 2024
Venezuela published Decree 4972 in the Official Gazette on 12 July, 2024, which reduces the tax rate to 0% from 2% for large financial transactions. The 0% tax rate applies to specific transactions which are mentioned in paragraphs one to four
Read More Venezuela extends VAT and customs duty exemption on imports of certain goods
July 16, 2024
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
Read More