The National Integrated Customs and Tax Administration Service (SENIAT in Spanish), announced an increase in the Tax Unit (UT) that went from costing 0.02 bolívares to 0.40 bolívares through Administrative Providence.
This was determined by resolution No. 2022/000023 of the Service, published in the Official Gazette No. 42,359, dated April 20.
In Article 2 of the aforementioned Administrative Ruling, states that “the value of the established Tax Unit may only be used as a Measurement Unit for the determination of National Taxes, whose collection and control are the responsibility of the National Integrated Customs Administration Service and Tax, not being able to be used by other organs and entities of the public power for the determination of labor benefits or special contribution rates derived from the services they provide”.
On the other hand, in Article 3 it highlights: “In the cases of taxes that are settled for annual periods, the applicable tax unit will be the one in force at the end of the respective fiscal year, and for taxes that are settled for periods other than the annual one, the applicable tax unit will be the that is in force for the beginning of the period, in accordance with the provisions of the Third Paragraph of Article 3 of the Constituent Decree through which the Organic Tax Code is dictated.”
In its Article 4 it indicates that Administrative Ruling SNAT/2021/000023, dated April 6, 2021, published in the Official Gazette of the Bolivarian Republic of Venezuela No. 42,100, of the same date, is repealed. While in its Article 5, it stands out that this Administrative Ruling will come into effect from the date of its publication in the Official Gazette of the Bolivarian Republic of Venezuela.
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Source: La Voz