Government exempts payment of VAT on fuel

Through the Official Gazette number 41.890, the Venezuelan Government announced that the sale of fuel, among other things, will not have the value added tax (VAT).

Specifically, the Executive Exempted the importation tax and the sale of fuel, as well as the inputs and additives intended to improve the quality of gasoline, from the import tax and Determination of the Customs Regime, according to decree No. 4220.

Said Gazette, which is dated May 20, highlights that the imports and sale of fuel, inputs and additives made by the State directly, or by companies of its exclusive property, by mixed companies with capital participation state and private in any proportion and by private companies, will be exempt from the payment of any tax

This Monday marks a week of the new fuel sales scheme in Venezuela, which has a subsidized modality (5,000 bolivars a liter) and an international price (0.50 cents per liter).

Likewise, it should be noted that since last Sunday several service stations will start working with a 24-hour modality, in order to cover the fuel demand that has been observed.

K. Tovar

Source: Descifrado