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Extension of Time for Declaration and Payment of Contribution to National Fund for Sports

Resolution No. 015/13, issued by the Ministry of the Popular Power for Sports, was published in Official Gazette No. 40.154, dated April 25, 2013.  The Resolution extends for thirty (30) calendar days, counted as from May 1, 2013, the period of time to make the declaration and payment of the contribution to the National Fund for Development of Sports, Physical Activity and Physical Education, that must be made by the companies and other public and private organizations that perform economic activities for profit in the country, and that are under the obligation to make the declaration.

The Resolution extends for twenty-five (25) calendar days, as from May 1, 2013, the period to pay the aforesaid contribution, for all companies or other public or private organizations that made the declaration up to April 30, 2013.

 

Also, the Resolution states that in those cases where the companies or other public or private organizations decided to pay in cash in three (3) portions, pursuant to article 52 of Partial Regulations No. 1 of the Organic Law on Sports, Physical Activity and Physical Education, the aforementioned twenty-five-day extension will be applicable only to the first portion of the corresponding payment.

 

In order to access the Resolution, please click http://www.traviesoevans.com/memos/2013-04-25-40154.pdf

 

“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.”