Exemption of Cooperative Associations from paying ISLR for one year is published in the Official Gazette
In accordance with Presidential Decree No. 4,976, published through Official Gazette number 42,939, dated August 12, 2024, Cooperative Associations are exempt for one year from paying Income Tax in Venezuela
Cooperative Associations will be exempt for one year from paying Income Tax, in accordance with Presidential Decree No. 4,976, published through the Official Gazette number 42,939.
The provision refers to “taxable net enrichment from territorial sources, obtained by Cooperative Associations, constituted in accordance with the provisions established in the Decree with Force of Special Law of Cooperative Associations.”
According to the Gazette, Cooperative Associations “must update the Single Registry of Fiscal Information, a procedure for which they must present the current Certificate of Compliance issued by the National Superintendency of Cooperatives.”
They will be subject to the rules of the Decree with Rank, Value and Force of Law of Income Tax, as the case may be, in everything concerning income, costs and deductions of taxable enrichment.
M.Pino
Source: contrapunto
(Reference image source: Unsplash+, in collaboration with Getty Images)
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