Venezuela will eliminate the exemption of tariffs to almost 600 imported products

As detailed by Delcy Rodríguez, the measure seeks "job creation" and "foreign exchange savings"

The executive vice president, Delcy Rodríguez, reported that taxes for some 597 imported products will be eliminated for “affecting” the production of national goods.

The decision focuses on “codes related to ifinshed products that may be affecting national production (…). It is a tax policy aimed at promoting national development and national production, so exemptions to tariffs are being eliminated,” Rodríguez said during a meeting with the Superior Council of Economy.

Strategic substitution policy, reviewed with the different economic sectors

In turn, she stressed that it is a policy for Venezuela of “strategic substitution” that was reviewed with the different economic sectors of the country and that “does not affect the national industry (…). When it is not possible to reach national production and we had to import, we will facilitate it “

As detailed by the Venezuelan vice president, the measure seeks “job creation” and “saving foreign currency.

Source: and Tal Cual

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