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Amendment to Ruling / Requirements for AAD for Productive Importation

Ruling No. 121, issued by the Foreign Currency Administration Commission (“CADIVI”), was published in Official Gazette No. 40,296 of November 18, 2013. Said Ruling partially amends Ruling No. 090, published in Official Gazette No. 38,987 of August 5, 2008. It amends the wording of articles 19, 20, 21, and 22 of Ruling No. 090. The most significant aspects of the Ruling are:

The user must request from CADIVI the physical check of the imported goods prior to their clearance from the primary customs zone.

It will be understood that the user waived the Authorization for Acquisition of Foreign Currency (AAD) when it has failed to observe the period of fifteen (15) business days established for filing with the exchange operator the relevant Declaration and Certificate of Check of Goods or when it withdraws the imported goods from the customs primary zone without CADIVI’s check having been made, except if the Administration decides that the check will be made at destination. Likewise, it will be understood that the user waived the AAD when it has not stated in the Single Customs Declaration (Declaración Única de Aduanas) or the Informative Customs Declaration (Declaración Informativa de Aduanas) that the importation will be made with foreign currency obtained through the Regime for Administration of Foreign  Currency.

The user must withdraw from the Customs Check Office the Declaration and the relevant Certificate of Check of Goods within ten (10) business days following the physical check of the imported goods.

The requests for Authorization for Acquisition of Foreign Currency intended for the importation of goods, made during the effectiveness of Ruling No. 090, under the status “received by the bank” (“recibida por el banco”) will be governed by the requirements and formalities contained in the new Ruling.

The Ruling became effective upon its publication in the Official Gazette.

In order to access the Resolution, 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.”