Increase in Calculation Base of Socialist Cestaticket
Decree No. 3.233, dated December 31, 2017, issued by the Presidency of the Republic, was published in Official Gazette of the Bolivarian Republic of Venezuela No. 6.354 Extraordinary, dated December 31, 2017. Said Decree establishes the following:
(i) It adjusts the calculation base for payment of the Socialist Cestaticket (food bonus), for the workers who provide services at the public and private sectors, to sixty-one Tax Units (61 T.U.) per day, at the rate of thirty (30) days per month. A maximum of one thousand eight hundred and thirty Tax Units (1,830 T.U.) per month may be received by the worker, without prejudice to the provisions of article 7 of the Decree with the Status, Value, and Force of Law of Socialist Cestaticket for Workers.
(ii) Employers will pay workers the amount of the Socialist Cestaticket preferably by providing coupons, tickets or electronic meal cards issued by a financial entity or establishment specialized in the administration and management of social benefits.
(iii) The period of time of the provision of article 5 of Decree No. 2.833, published in Official Gazette No. 6.296 Extraordinary of May 2, 2017 ends; said provision modified the payment method of the Socialist Cestaticket benefit. To that effect, the application of the methods prescribed in the Decree with the Status, Value, and Force of Law of Socialist Cestaticket remains, with the preferences indicated in Decree No. 3.233.
(iv) The coupons, tickets, and electronic cards issued will remain valid until new instruments are issued.
The Decree became effective on January 1, 2018.
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.”