Decree on simplification of formalities for importation of priority products
Decree No. 1,590, issued by the Presidency of the Republic, was published in Official Gazette No. 6,169 Extraordinary of January 27, 2015 (the “Decree”). Said Decree implements a mechanism for expediting the administrative formalities and operating procedures required under the current legislation to import the finished products, consumable supplies, and raw material indicated in the Decree and required to assure timely supply of essential goods nationwide.
The formalities and procedures to be simplified and expedited are specified in the Decree. The purpose of the Decree is to reduce the periods of time for carrying out such formalities and to increase the effectiveness in the availability of the relevant products, implementing strict subsequent control mechanisms that prevent said facilities from being used by speculative sectors or for private purposes.
Article 2 specifies the products considered to be priority products for national supply and, for which, therefore, the importation and inward customs clearance formalities will be subject to the facilities established in the Decree. They include: Food (corn, milk, flour, legumes, etc.), medicines, personal hygiene products, consumable supplies (cleaning products, agricultural production, oils and margarine, construction, fertilizers, medical equipment, medical materials, among others).
The Decree became effective upon its publication in the Official Gazette and will remain in effect until March 30, 2015.
In order to access the Decree, 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.”