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Increase in Minimum Salary

Presidential Decree No. 1.737, dated May 1, 2015, was published in Official Gazette No. 6,181 Extraordinary of May 8, 2015. Through said Decree the national minimum salary was increased 30%. The first part of the increase corresponding to 20% entered into effect on May 1, 2015 and the second part of the increase corresponding to 10% will enter into effect as from July 1, 2015, the minimum salary as of said dates being as follows:

 

As of May 1, 2015:

 

a)     Bs. 6,746.98 per month for workers of both the private and public sector.

 

b)     Bs. 5,017.61 per month for apprentices and teenagers.

 

As of July 1, 2015:

 

a)     Bs. 7,421.68 per month for workers of both the private and public sector.

 

b)     Bs. 5,519.37 per month for apprentices and teenagers.

 

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.”