- Venezuela updates VAT regulations with two significant changes.
- Decree No. 5.145 suspends VAT exemptions on essential goods like food, medicines, and books.
- The suspension affects items listed in Section 1 of Article 17 of the VAT Law.
- Exemptions remain for certain imports by national bodies and individuals using their own resources.
- Importers must meet specific conditions to maintain exemptions.
- Administrative Ruling SNAT/2025/000054 designates special taxpayers as VAT withholding agents.
- The ruling applies to entities qualified by SENIAT and took effect on 1 August 2025.
Source: regfollower.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.
