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Exemption from payment of Import Tax and Rate for determination of customs regime

Decree No. 3.547 of June 25, 2018, issued by the President of the Republic, was published in Official Gazette No. 41.446 of July 25, 2018 (the “Decree”) and published again, due to faults in the originals, in Official Gazette No. 41.456 of August 8, 2018. Said Decree exempted from payment of the import tax and rate for determination of customs regime, up to December 31, 2019, the final importation of corporeal goods, new or used, as applicable, and as per the Resolution issued to that end,  made by the agencies and entities of the National Public Administration, as well as the importation made by natural or legal persons with their own resources that is intended for the manufacturing industry or that constitutes consumable supplies, raw material, spare parts, consumables and rotables, equipment, tools, and machinery for agriculture, agribusiness, oil industry, petrochemical industry, fishing and aquaculture, not produced in the country or with insufficient production according to the Law.

 

The same entities and persons were exempted from the aforesaid payment, up to December, 31, 2018, with respect to the final importation of manufactured products of the sectors of textiles, footwear, food, lubricants and their by-products, personal hygiene and home cleaning products, and medicines.

 

The aforesaid exemption will be applied regardless of the fact that the goods are imported or acquired in complete or disassembled pieces, in its parts and components, according to the General Interpretative Rules; Section Notes, Chapter  Notes, and Sub-item Notes of the Harmonized System of Designation and Codification of Goods (Sistema Armonizado de Designación y Codificación de Mercancías).

 

The Ministries with jurisdiction over the products subject matter of the exemption will issue a joint Resolution determining the customs codes of said goods and products, within a period of 7 business days following publication of the Decree. The Ministries may also, through a Sectorial Resolution, modify the customs codes of the goods and products as per the needs of the sectors of their jurisdiction.

 

Lastly, the Decree establishes that the beneficiaries that fail to perform the obligations established in the Organic Tax Code and other tax rules and in the Organic Customs Law and its Regulations will lose the benefit of exemption. 

 

The Decree became effective upon publication in the Official Gazette of the Bolivarian Republic of Venezuela.

 

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.”