Venezuelan government announces increase in TU

Through the Official GazetteNo. 42,100 it was published that the Tax Unit will go from 1,500.00 bolivars to 20,000.00 bolivars

Through Official Gazette No. 42,100 dated April 6, 2021, the Venezuelan government published a Ruling of the Integrated National Service of the Customs and Tax Administration (Seniat). In this document, the readjustment of the Tax Unit is established, which will now go from costing 1,500.00 bolivars to 20,000.00 bolivars.

As of the publication in the Official Gazette, all rates, impositions and fees that use this reference to determine their values ​​must be recalculated.

Next, part of the published Gazette:

Article 1. The value of the Tax Unit is readjusted from ONE THOUSAND FIVE HUNDRED BOLÍVARES (Bs. 1,500.00) to TWENTY THOUSAND BOLÍVARES (Bs. 20,000.00).

Article 2. The value of the Tax Unit established in this Administrative Ruling may only be used as a Unit of Measure for the determination of National Taxes whose collection and control are within the competence of the Integrated National Service of Customs and Tax Administration, and cannot be used by others. Bodies and entities of the public power for the determination of labor benefits or rates and special contributions derived from the services they provide.

Article 3. In the cases of taxes that are settled for annual periods, the applicable tax unit will be the one that is 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 one 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 by which it dictates the Organic Tax Code.

Article 4. Administrative Ruling SNAT / 2020/00006, dated January 21, 2020, published in the Official Gazette of the Bolivarian Republic of Venezuela No. 41,839, dated March 13, 2020, is repealed.

Article 5. This Administrative Ruling shall enter into force from the date of its publication in the Official Gazette of the Bolivarian Republic of Venezuela.

K. Tovar

Source: El Carabobeño

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