Administrative Ruling that readjusts Tax Unit to Bs. 1,200.00
Administrative Ruling No. SNAT/2018/0120, issued by the Superintendent of the National Integrated Service of Customs and Tax Administration (Servicio Nacional Integrado de Administración Aduanera y Tributaria – “SENIAT”), was published in Official Gazette No. 6.383 Extraordinary of June 20, 2018 (the “Administrative Ruling”). Said Administrative Ruling readjusted the Tax Unit (T.U.) from eight hundred and fifty Bolivars (Bs. 850.00) to one thousand and two hundred Bolivars (Bs. 1,200.00).
The Administrative Ruling established that in the cases of taxes paid in annual periods, the applicable T.U. will be the one in effect during at least 183 calendar days of the relevant period and in the cases of taxes that are paid in periods other than annual periods, the applicable T.U. will be the one in effect at the beginning of the period, as per Paragraph Third of article 3 of the Organic Tax Code.
The Administrative Ruling became effective on June 20, 2018.
In order to access the Administrative Ruling, 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.”