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Expediting of CADIVI’s process

Resolution No. 3,276 of the Ministry of the Popular Power for Planning and Finances was published in Official Gazette No. 40.101, dated January 30, 2013.  The Resolution establishes that the items that are apt to the importation of capital goods, consumable supplies, and raw materials, made by the companies of the productive and transforming sectors of the country, for up to a maximum amount of Fifty Thousand Dollars of the United States of America (US$. 50,000.00) or its equivalent in another foreign currency will be benefited from the expediting of the process for obtaining the Authorization for Acquisition of Foreign Currency (“AAD”, for its abbreviation in Spanish) and the Authorization for Payment of Foreign Currency (“ALD”, for its abbreviation in Spanish), after compliance with the requirements established in the Ruling issued to that end by the Foreign Currency Administration Commission (“CADIVI”).

Resolution No. 2,669, published in Official Gazette dated July 1, 2010, was thereby repealed.  The Resolution became effective on the date on which it was published in the Official Gazette.

In the following link you will find a copy of the Resolution, which includes the list of those capital goods, consumable supplies, and raw materials subject to the Resolution.

 

“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.”