- Decree No. 5.2931 exempts VAT and customs duties on goods in passengers’ luggage entering Venezuela from the Paraguaná Peninsula Investment Zone or the Free Port of Nueva Esparta.
- The exemption applies if the goods’ value does not exceed 3,000 times the highest exchange rate published by the Central Bank of Venezuela (currently EUR 3,000).
- The Decree took effect on 20 March 2026 and will remain in force for five years, until 20 March 2031.
- The baggage regimes are also subject to the specific laws of the respective zones.
- Nueva Esparta is a Special Economic Zone and Free Port; Paraguaná Peninsula is a Free Trade Zone, Special Economic Zone, and Free Zone.
Source: bakermckenzie.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.
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