Travieso Evans Arria Rengel & Paz

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Percentage of the Contribution to the Fund of the National Health Public System

A Resolution dated June 28, 2016 of the Ministry of the Popular Power for Banking and Finance was published in Official Gazette No. 40.935 of June 30, 2016 (the “Resolution”). Said Resolution fixes at 3%, for the second semester of economic year 2016, the percentage of the contribution to the Fund of the National Health Public System (the “Fund”), or any other fund considered by the National Executive, that has to be made by the insurance companies, prepaid medicine companies, risk management companies, and cooperative associations engaged in the insurance activity.

 

The percentage will be applied to the amount of premiums of health insurance policies, installments of health plans, and to the amount of the income obtained as remuneration for risk management contracts, net of risks, net of cancellation and return, corresponding to the aforesaid economic year, according to the provisions of the Law of the Insurance Activity in force.   

 

The Resolution will become effective as from its publication in the Official Gazette.

 

In order to access the Resolution, 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.”