Increase of Minimum Salary/ Adjustment of Socialist Cestaticket
Presidential Decree No. 3.301 of March 1, 2018 was published in Official Gazette No. 41.351 of the same date. Through said Decree the mandatory minimum monthly salary was increased 58% in all of the national territory. The increase entered into effect as from February 15, 2018 and the minimum salary as from said date is as follows:
a) Bs. 392,646.46 per month for the workers of the private and public sectors.
b) Bs. 294,484.84 per month for adolescents and apprentices.
Also, as a consequence of the readjustment of the Tax Unit (T.U.) from Three Hundred Bolivars (Bs. 300,00) to Five Hundred Bolivars (Bs. 500,00), published in Official Gazette No. 41.351 of March 1, 2018, the Socialist Cestaticket will be as follows:
a) Bs. 915,000.00 per month, at the rate de 61T.U. per day for thirty (30) days
In order to access the aforesaid 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.”