The National Executive of Venezuela issued Decree No. 4,821 on 1 July 2023 (“Decree”)[1], exempting definitive imports of tangible personal property from Value Added Tax (VAT) and import tax.
The Decree establishes that the periodic evaluation of VAT exemptions will be carried out in accordance with the determinations of the National Integrated Customs and Tax Administration Service (SENIAT) and the Ministry with competence in Economy, Finance and Foreign Trade,[2] which are the competent authorities in charge of implementing the Decree’s provisions.
The Decree entered into force on 1 July 2023 and will apply for the exemption until 31 December 2023.
Source: bakermckenzie.com
