On 10 August 2023, the Venezuelan National Assembly issued the Organic Law for the Coordination and Harmonization of the Tax Powers of States and Municipalities. The law will enter into force on 8 November 2023, 90 continuous days after its publication in the Official Gazette. The Law sets forth that from its entry into force, the provisions of state laws and municipal ordinances establishing different tax rates from those allowed by the Law will be repealed. Likewise, states and municipalities will have an additional period of 90 continuous days, counted as of the entry into force of the Law, to adapt to the Law their legal-tax instruments in force.
The Superintendent of the Venezuelan Tax Authority issued Administrative Ruling No. SNAT/2023/00005, which designates who may be designated as a special taxpayer, their obligations and other relevant aspects. The Ruling repealed Administrative Ruling No. SNAT/2007/06852 and entered in force on 15 March 2023.
The Ministry of People’s Power of Economy, Finance and Foreign Trade issued Resolution No. 017-2022 on 30 August 2022 (“Resolution”), whereby tariff codes were removed from and added to Appendix I of Decree No. 4,683 of 1 May 2022 (“Decree”). The Decree established the exemption from the payment of value-added tax (VAT), customs duties and customs service fees for imports of certain goods and economic sectors until 31 December 2022.
The Resolution entered into force on 12 September 2022 (i.e., five business days following its publication in the Official Gazette of the Bolivarian Republic of Venezuela).
The Presidential Press’1 and the Ministry of Habitat and Housing’s2 Twitter accounts announced on August 9, 2020 the execution of the “National Agreement of Municipal Tax Harmonization” (“Agreement”), prepared by the Bolivarian Council of Mayors of Venezuela3 to harmonize municipal taxes in 305 Venezuelan municipalities. (Venezuela has 335 municipalities). Click here to see a copy of the Agreement, dated July 29, 2020. (available only in Spanish)