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Modification of requirements of Authorization for Acquisition of Foreign Currency for importation

Administrative Ruling No. 119, issued by the Foreign Currency Administration Commission (“CADIVI”), was published in Official Gazette No. 40,259 of September 26, 2013. Said Ruling partially amends Ruling No. 108 relating to the requirements and formalities of the authorization for acquisition of foreign currency for importation, published in the Official Gazette of September 23, 2011.

 

Article 23 of Ruling No. 108 established a list of documents to be presented by the users to CADIVI for purposes of requesting the physical check of the goods imported before being cleared from the customs primary zone. In this connection, letter (c) of article 23 of Ruling No. 108 established that the user had to file with CADIVI a copy of the single customs declaration (declaración única de aduanas) or the informative customs declaration (declaración informativa de aduanas), when applicable, accompanied by the declaration of customs value. Now, Ruling No. 119 changes said letter (c) in order to establish that the single customs declaration or the informative customs declaration must state that the foreign currency will be obtained through the regime for administration of foreign currency. Also, it may be inferred from Ruling No. 119 that for such purpose, the filing with CADIVI of a copy of the documents required under the legal regimes to which the imported goods may be subject, according to the Schedule of Customs Duties of the Bolivarian Republic of Venezuela, will no longer be necessary.

 

Ruling No. 119 now establishes two (2) cases in which it will be presumed that the user waived the authorization for acquisition of foreign currency (“AAD”): (a) When the user removes the imported goods from the customs primary zone without CADIVI having checked them, except in the cases of requests for destination check; and (b) When the user has not expressly stated in the customs declaration that the importation was made with foreign currency obtained through the regime for administration of foreign currency. As a consequence of the foregoing, the authorization for provision of foreign currency (“ALD”) will not be granted or the reimbursement of the authorized foreign currency will be required.

 

According to article 25 of Ruling No. 119, the new period of time to withdraw the declaration and certificate of check of goods (acta de verificación de mercancias) will be ten (10) business days following the check of the goods.

 

Ruling No. 119 contains the following two (2) changes in article 26 of Ruling No. 108: (a) for purposes of completing the importation, the obligation to present a copy of the license, permit, or other requirements for importation established in the Schedule of Customs Duties, is deleted; and (b) during the period of time established for completion of the importation, the user may comply with all the relevant formalities for the check of the imported goods and make the relevant completion of the importation.

 

The AAD requests intended for importation of goods made during the time of legal effectiveness of Ruling No. 108, with the status “Received by the Bank” (“Recibida por el Banco”) will be governed by Ruling No. 119.

 

Ruling No. 119 became effective upon its publication in the Official Gazette and it repealed Ruling No. 108.

 

In order to access Ruling No. 119, 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.”