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Administrative Ruling that readjusts Tax Unit to Bs. 500

Administrative Ruling SNAT/2018/0017, 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. 41.351 of March 1, 2018. Said Ruling readjusted the Tax Unit (T.U.) from three hundred Bolivars (Bs. 300) to five hundred Bolivars (Bs. 500).

 

The Administrative Ruling established as follows:

 

1. The Tax Unit is readjusted from Bs. 300 to Bs. 500.

 

2. 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 March 1, 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.”