- Venezuela issued Decree No. 5146 on June 30, 2025, exempting VAT and import duties on certain goods until June 30, 2026.
- The exemption applies to 90 percent VAT on imports of new or used tangible goods by public entities or individuals using their own resources.
- Full exemption from import duties and VAT is granted to imports by specific ministries and entities, as classified in the Decree’s appendices.
- Beneficiaries must submit specific documents electronically to customs to receive the exemption.
- Failure to comply with Decree conditions results in loss of exemption benefits and potential penalties.
- SENIAT issued Circular No. 00013774 to guide the adaptation of the SIDUNEA system for implementing exemptions.
Source: lexology.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Venezuela"
- Venezuela Suspends VAT Exemptions, Designates Special Taxpayers as Withholding Agents in New Decrees
- Venezuela Updates VAT Exemptions and Designates New VAT Withholding Agents in 2025 Guidance
- Venezuela Broadens VAT Withholding Rules for Individuals with Personal Businesses
- Venezuela Exempts Import Duties and VAT on Goods Until June 2026 Under New Decree
- Venezuela Issues Tax Refund Guidelines for Special Economic Zones: Compliance and Certification Required
