Maduro eliminates tax exemptions in Venezuela

Nicolás Maduro, president of Venezuela, announced this Friday the end of tax exemptions as part of the new collection policy

The president of Venezuela, Nicolás Maduro, announced a new tax policy that seeks to increase tax collection, for which he announced the elimination of exemptions.

During an official event this Friday, February 2, Maduro indicated: “I tell everyone who wants to listen to me: the tax exemptions are over, except for one or two for very urgent health issues. Tax exemptions are over.”

During the commemorative event of the 25th anniversary of the Bolivarian Revolution, in addition to the “launch of the great Young Venezuela Mission, the head of state requested doubling income from taxes.”

The order is that this year the collection must exceed 100 % that of 2023, which exceeded USD 5,000 million.

On January 15, during the Annual Message to the Nation, Maduro “raised the tax collection goal for the year 2024 to the equivalent of 10 billion dollars.”

Some opinions refer to the goal as ambitious, taking into account the national panorama in terms of oil tax collection.


Source: Finanzasdigital

(Reference image source: Unsplash+, in collaboration with Getty Images)

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