Operations taxed with VAT rate reduction/ Invoices, declaration and payment
Administrative Ruling No. SNAT/2017/0048, dated 09/21/2017, issued by the National Integrated Service of Customs and Tax Administration (Servicio Nacional Integrado de Administración Aduanera y Tributaria - “SENIAT”), was published in Official Gazette No. 41.244 of 09/26/2017 (the “Ruling”). The Ruling establishes the formalities for the issue of invoices, declaration, and payment of Value Added Tax (VAT) that must be complied with by the taxpayers that make sales of corporeal goods and provide services to natural and legal persons benefited from the three or five percent (3% or 5%) reduction of the VAT rate, always provided that such sales or provision of services are paid through electronic means.
The Ruling establishes as follows:
1. In addition to the requirements established in the Administrative Ruling that regulates the General Regime for Issuance of Invoices and other Documents, the taxpayers must indicate the 3% or 5% reduction of the general VAT rate if the consumer meets the condition prescribed in the Decree that establishes the reduction of rate (Decree No. 3.085, published in Official Gazette No. 41.239 of 09/19/ 2017).
2. The taxpayers may continue to use the same means of issue of invoices adopted or obligatorily used by them, always provided that said means are capable of being adapted to the aforementioned requirements. Should such adaptation not be possible, they must use the formats made by authorized printing houses, which formats must indicate the 3% or 5% reduction and manually or mechanically state that such indication is made in accordance with the Decree that establishes the reduction of rate.
3. The taxpayers must file the VAT declaration and payment in accordance with the technical specifications indicated through the SENIAT’s web page.
4. The suppliers or manufacturers of Fiscal Machines must adapt the models authorized by the SENIAT in order to include the reduction of rate within a period of five (5) business days following the entry into force of the Ruling. The taxpayers must request the adaptation of the Fiscal Machines from their authorized suppliers or manufacturers within said period of time.
5. Should the models authorized by SENIAT lack the technical capacity to be adapted, a written and reasoned notification of said situation must be given by the suppliers of manufacturers of Fiscal Machines to SENIAT’s Auditing Management (Gerencia de Fiscalización) within a period of two (2) business days following the entry into force of the Ruling.
6. The SENIAT will publish in its web page a list of the models that cannot be technically adapted to the provisions of the Ruling.
The Ruling will become effective upon its publication in the Official Gazette and will remain in force until 12/31/2017.
In order to access the 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.”