The Superintendence of Fair Prices starts the RUPDAE
In connection with the Single Registry of Individuals that Develop Economic Activities (Registro Único de Personas que Desarrollan Actividades Económicas - “RUPDAE”) referred to in the Law of Fair Prices (the “Law”), be informed that on Monday, March 31, 2014, the Superintendent of Fair Prices (the “Superintendent”) announced in a public act the creation and implementation of said Registry. Likewise, the Superintendent and the Minister of Commerce called for immediate registration, in order to which a period of 180 days after the RUPDAE becomes operative is allowed, according to Transitory Clause Eighth of the Law.
It has been confirmed, at the offices of the National Superintendence for the Defense of Socioeconomic Rights (Superintendencia Nacional para la Defensa de los Derechos Socio Económicos - “SUNDDE”), that the RUPDAE has been active since its creation.
According to articles 22 and 49 of the Law, the individuals/entities subject to its application are bound to be registered and to keep their data current. Failure to comply with the foregoing will be penalized with a fine ranging between two hundred (200) and five thousand (5000) Tax Units. Also, article 22 of the Law establishes that registration with the RUPDAE is an essential requirement in order to be able to perform economic and commercial activities in the country.
Find below the link to the web page of the Superintendence of Fair Prices, through which you may obtain the RUPDAE. Upon entering the module called “Inscripción Nuevo Usuario” (“New User Registration”), the page will display the steps to follow for registration.
“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.”