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PV Justo is the Maximum Price - Period of time for marking

Administrative Ruling No. 073/2014, issued by the National Superintendence for the Defense of Socioeconomic Rights (Superintendencia Nacional para la Defensa de los Derechos Socioeconómicos - “SUNDDE”) (the “Ruling”) was published in Official Gazette No. 40,571 of December 30, 2014. The Ruling establishes the following:

 

• The PV Justo defined in Administrative Ruling No. 057/2014, issued by SUNDDE, published in Official Gazette No. 40,547 of November 24, 2014, is to be considered as the maximum price at which a good or service may be commercialized.

 

• In the special economic zones and tax-free zones where the tax legislation establishes that the goods and services are commercialized without being taxed with Value Added Tax, the sales price will be that of the PV Justo that appears before the indication of the tax.

 

• The period of time to perform the obligation of marking, labeling, or using lists that indicate the PV Justo, according to Administrative Ruling No. 057/2014, will be extended for thirty (30) business days as from the date of expiration of the period of time prescribed in said regulatory instrument.

 

• When the dimensions of the object prevent compliance with the indications already fixed for the stamping or marking of the PV Justo, a size of three millimeters (3 mm) may be fixed by way of exception.

 

The Ruling became effective on December 30, 2014.

 

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.”