VATupdate
VAT

Venezuela adjusts Tax Unit value for 5th time since March 2018

On 7 March 2019, Venezuela adjusted the value of its Tax Unit for the fifth time since the beginning of 2018. The Tax Unit is a referential value created by the Organic Tax Code in 1994 to update tax bases, fees, fines and similar tax concepts according to the annual inflation. This article provides a summary of the key consequences of the fifth adjustment.
Source Baker & McKenzie

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