October 2019 Managerial Alerts
EXEMPTION FROM IT PAYMENT – COOPERATIVES Decree No. 4.015 of October 23, 2019, issued by the President of the Republic, was published in Official Gazette No. 41.745 of October 24, 2019 (the “Decree”). According to the Decree, the taxable net income of territorial source obtained by Cooperatives organized under the Decree with the Force of…
VALUE OF UNIT FOR ARITHMETICAL CALCULATION OF MAXIMUM AND MINIMUM THRESHOLD (UCAU) Joint Resolution No. 012/2019 and No. 756/2019, issued by the Ministry of the Popular Power for Planning and the Ministry of the Popular Power for Economy and Finance, respectively, was published in Official Gazette No. 41.743 of October 22, 2019 (the “Resolution”). The…
REGIME APPLICABLE TO THE COMMERCIAL CREDITS GRANTED BY BANK INSTITUTIONS The Venezuelan Central Bank (VCB) issued Resolution No. 19-09-01, which was published in Official Gazette No. 41.742 of 10-21-2019 and entered into force on the second business day following its publication. Said Resolution established that upon the entry into force of the same, the…
INCREASE OF MINIMUM SALARY/ ADJUSTMENT OF CESTATICKET Presidential Decree No. 3.997 of October 11, 2019 was published in Official Gazette No. 6.484 Extraordinary of the same date. Said Decree increased the mandatory minimum monthly salary in all of the national territory. The increase became effective as from October 1, 2019 and the minimum salary…
