Travieso Evans Arria Rengel & Paz

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SUNDDE fixes additional prices of products (resending for transmission error)

On September 10, 2014, the National Superintendence for the Defense of Socioeconomic Rights (Superintendencia Nacional para la Defensa de los Derechos Socioeconómicos - “SUNDDE”) published Administrative Ruling No. 045/2014 in its official web page. Said Ruling fixes the maximum prices of the products indicated in the same (the “Ruling”). The purpose of the Ruling is to fix in all of the national territory (i) the Maximum Price of Sale by the Producer and/or Importer (Precio Máximo de Venta del Productor y/o del Importador- “PMVPI”), (ii) the Maximum Price of Sale by the Distributor Wholesaler (Precio Máximo de Venta del Distribuidor Mayorista - “PMVDM”) and (iii) the Maximum Price of Sale to the Public (Precio Máximo de Venta al Público - “PMVP”) of  tooth paste, fabric conditioners and softeners,  hair conditioners, and floor wax indicated in same.  With respect to the marking of the prices fixed, the Rulings prescribe that the maximum prices of sale that they indicate do not include Value Added Tax (“VAT”). The printing or marking of the price of sale of the products listed in the Rulings must be based on the format contained in the Rulings.  The prices published by the SUNDDE must bear the abbreviation PMVP and in the event that said prices are lower than the PMVP, they must bear the abbreviation PVP (Precio de Venta al Público – Price of Sales to the Public). The products regulated in the Ruling that are marked with prices lower than those indicated in the same before the entry into force of the Rulings must be sold at the lower price.  The Ruling establishes the methodology of exchange of the regulated products among the different entities/persons of the chain of production, importation, distribution, and commercialization.  The producers and importers, as well as any wholesaler and retailer of the products regulated by the Ruling, must guarantee the existence and sale of said products in the links of the national commercialization chain.  The owners or parties responsible for commercial establishments for retail of products must exhibit the products indicated in the Rulings in conditions equal to those of similar products.  The entities/persons subject to the application of the Rulings that receive from their respective suppliers products with higher prices or in quantities of units of measure different from those established in the Rulings must notify it to the SUNDDE.  The Rulings repealed prior administrative acts that fixed maximum sales prices of the products listed in the same.

 

Ruling 045/2014 establishes a period of thirty (30) calendar days as from the date of its publication in the Official Gazette in order for producers and importers to comply with the marking of the PMVP or PVP.

 

Ruling 045/2014 will become effective upon the date of its publication.

 

From a practical point of view, it is not clear whether SUNDDE will interpret that the entry into force of Ruling 045/2014 and the period for producers and importers to comply with the marking of the PMVP or the PVP began on the date when the Ruling was published in SUNDDE’s web page or on the date of publication in the Official Gazette.

 

Up to now, we have no evidence of the fact that the Ruling has been published in the Official Gazette.

 

In order to access Ruling No. 045/2014, 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.”