Travieso Evans Arria Rengel & Paz

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Adjustment of Socialist Cestaticket

Decree No. 2.505 of October 27, 2016 was published in Official Gazette of the Bolivarian Republic of Venezuela No. 6.269 Extraordinary of October 28, 2016.  Said Decree increases the calculation base for payment of the Socialist Cestaticket (food bonus), for the workers who provide services at the public and private sectors, to twelve Tax Units (12 T.U.) per day, at the rate of  thirty (30) days per month. A maximum of up to three hundred and sixty Tax Units (360 T.U.)  per month may be received by the workers, which is equivalent to the amount of SIXTY-THREE THOUSAND SEVEN HUNDRED AND TWENTY BOLIVARS (BS. 63,720.00), without prejudice to the provision of article 7 of the Decree with the Status, Value, and Force of Law of Socialist Cestaticket for Workers. 

 

Article 4 of said Decree prescribes that as long as the economic emergency exists, the work entities of the public and private sectors  that keep operating the benefit established in article 4, numbers 1 through 4, of the Decree with the Status, Value, and Force of Law of Socialist Cestaticket for Workers must, in addition and on a temporary basis, grant also the benefit of Cestaticket by providing coupons or tickets or an electronic food card issued by a financial entity or establishment specialized in administration and management of social benefits.  

 

The Decree will become effective on November 1, 2016.

 

In order to access the Decree, please click here

 

“NOTE: THIS INFORMATION SHOULD NOT BE CONSTRUED AS LEGAL ADVICE ON ANY SPECIFIC MATTER AND ITS CONTENT ARE INTENDED AS A MANAGEMENT ALERT AS TO CURRENT DEVELOPMENTS IN VENEZUELA, ANY SPECIFIC LEGAL QUESTIONS REGARDING THE POSSIBLE APPLICATION OF NEW OR PROPOSED LEGISLATION TO PARTICULAR SITUATIONS SHOULD BE ADDRESSED TO TRAVIESO EVANS ARRIA RENGEL & PAZ