Formal duties to be complied with by the taxpayers indicated in the Organic Law on Drugs
The Board of Directors of the National Antidrug Fund (Fondo Nacional Antidrogas – FONA) issued an Administrative Ruling that regulates the formal duties of the FONA taxpayers. Said Ruling was published in Official Gazette No. 40.777 of October 29, 2015.
Among its most significant aspects, the Administrative Ruling establishes:
1. After the occurrence of the taxable event, the taxpayer must obtain its registration with the FONA through the FONA’s official web page and provide the following updated information: i) Corporate Name, ii) Fiscal Domicile, iii) Fiscal Information Registry (RIF), iv) Corporate Purpose/Economic Activity, v) Data of registration with the Mercantile Registry, vi) Legal Representative(s), and vii) Number of active workers (per month).
2. Uncertified copy of the information referred to in number 1 above must be delivered at the office of the Tax Administration, within fifteen (15) business days following registration with the FONA.
3. The declaration and payment of the contribution and the special contribution established in the Organic Law on Drugs (OLD) will be made pursuant to the legal rules on drugs.
4. The taxpayers will have the duty to file an informative return through the means established by the FONA, if at the time when the tax obligation accrues they incur losses in their fiscal year.
5. The filing of two (2) or more substitute returns will be penalized pursuant to the provisions of the Organic Tax Code (OTC).
6. With respect to fiscal control, the taxpayers must exhibit the books, records, or other documents upon the request from the FONA, put in a visible place of the fiscal domicile the certificate of registration, declaration, and payment of the immediately preceding fiscal year; they must not hide or destroy notices, stickers, labels and other means used, required or distributed by the Tax Administration, and they must not impede access to the premises, offices or places where the auditing and verification powers will be started or developed by the authorized and identified FONA’s officers.
7. Failure to comply with the provisions of the Administrative Ruling will be penalized pursuant to the provisions of the OTC.
8. The FONA may place identification labels in the premises where the failure to comply with formal duties is determined, in order to preserve the verification actions.
The Administrative Ruling will become effective upon publication in the Official Gazette of the Bolivarian Republic of Venezuela.
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.”