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Administrative Ruling that readjusts the T.U. to Bs.S. 17.00

Administrative Ruling No. SNAT/2018/0129, 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. 41.479 of September 11, 2018 (the "Ruling").  The Ruling readjusted the Tax Unit ("T.U.")  to seventeen sovereign bolivars (Bs.S 17.00).

 

The Ruling established that the value of the T.U. may only be used as Unit of Measurement for the determination of the National Taxes the collection and control of which are under the jurisdiction of SENIAT, as well as for the determination of the penalties imposed by the same; it may not be used by other governmental agencies and entities for the determination of labor benefits or rates and special contributions resulting from the services provided  by them

 

 

The Ruling became effective on September 11, 2018.

 

In order to access the 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.”