Venezuelan government decrees new exemption from import taxes
The management of Nicolás Maduro issued a decree by which it establishes the exemption of Value Added Tax (VAT), Import Tax and the Rate for Determination of the Customs Regime to a group of sectors and merchandise that are brought to the country by the National Executive or by private actors until April 30, 2021
The measure was published in the Extraordinary Official Gazette No. 6,608 of this Tuesday, December 29.
Article 3 indicates that until April 30, 2021, payment of Import Tax, Value Added Tax (VAT) and Fee for determination of the Customs Regime is exempted in the terms and conditions provided in this Decree, to definitive imports of personal property, new or used, as applicable, carried out by the organs and entities of the National Public Administration, as well as those carried out with their own resources, by natural or legal persons, classified in the tariff codes, indicated in the Appendix I that is an integral part of this Decree.
According to article 4, the payment of the Value Added Tax is exempt, and the rate of 2% or 0% ad valorem will be applied, as appropriate, by virtue of the provisions of articles 8, 10, 11 and 12 of the Customs Tariff. Customs, to definitive imports of capital goods, computer and telecommunications goods, their parts, pieces and accessories, not produced or with insufficient production in the country, for first use, identified as BK or BIT, in column three ( 3), of article 37 of the Customs Tariff, under the terms and conditions set forth in the respective “BK or BIT Exemption Certificate”, administered by the Ministry of People’s Power with competence in industrial matters.
Article 5 indicates that definitive imports of tangible personal property are also exempted, made by legal persons, whose economic activity corresponds to the automotive sector, classified in the tariff codes indicated in Appendix II that is an integral part of this Decree , under the terms and conditions provided in the respective “Certificate of Exoneration of the Automotive sector”, administered by the Ministry of Popular Power with competence in matters of industries or “Import Authorization under the Regime of Imported Assembly Material for Vehicles”, issued of the Integrated National Service of Customs and Tax Administration (SENIAT), as appropriate.
Article 6 also includes sales made in the national territory, definitive imports of personal property made by the Organs and Entities of the National Public Administration, aimed at preventing the expansion of the Coronavirus pandemic (Covid-19), classified in the tariff codes, indicated in Appendix III that is an integral part of this Decree, in the terms and conditions provided in the respective “Exemption Document”, issued by the Integrated National Service of Customs and Tax Administration (SENIAT).
Article 7 indicates that definitive imports of tangible personal property, new or used, are exempted for a period of 90 days, counted from the entry into force of this Decree, to definitive imports of personal property, new or used, as applicable, classified in the corresponding tariff codes. to electrical and electronic equipment for telecommunications.
Likewise, in accordance with article 8, goods classified in the tariff codes indicated in Appendix IV that form an integral part of this Decree are subject to a tariff quota regime until April 30, 2021, and for that purpose, they may be Exonerated or totally or partially deducted from the Import Tax, Value Added Tax and Fee for Determination of the Customs Regime in the amounts and terms indicated in the respective “Certificate of Exoneration under the Tariff Contingent Regime”, administered by the Ministry of Popular Power with competence in economics, finance and foreign trade, after analyzing the cost benefit report.
G. Febres
With information from national media and social networks
