ADMINISTRATIVE RULING THAT READJUSTS TAX UNIT TO BS. 50.00

Administrative Ruling No. SNAT/2019/00046, issued by the Superintendent of the National Integrated Service of Customs and Tax Administration (Servicio Nacional Integrado de Administración Aduanera y Tributaria – “SENIAT”), was published in Official Gazette No. 41.597 of March 7, 2019 (the “Ruling”). The Ruling readjusts the Tax Unit (T.U.) to fifty bolivars (Bs. 50.00).

The Ruling establishes that the value of the T.U. may only be used as Unit of Measurement for the determination of the National Taxes the collection and control of which are under the SENIAT’s jurisdiction and of the penalties imposed by the same; it may not be used by other agencies and entities of the national government for the determination of labor benefits or of special rates and contributions derived from the services rendered by them.

The Ruling became effective on March 7, 2019.

In order to access the Ruling, please click here.

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