Travieso Evans Arria Rengel & Paz

News

Rate of Exchange for Tax Obligations of the Public Sector

Through Official Notice published in Official Gazette No. 41.024 of 11/04/2016, the Venezuelan Central Bank informed that the DIPRO rate of exchange established in Exchange Agreement No. 35 will be applicable to the  conversion of foreign currency for the determination of the taxable base of the tax obligations derived from customs operations made by PDVSA and its affiliates, by  mixed companies, by the providers of imported supplies for all such companies and, generally, for  the determination  of the taxable base of the tax obligations of the public sector.  The DIPRO rate of exchange will be also applicable to importation made with financing of the bank institutions of the public sector.

 

In order to access the Official Notice, 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