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Facilitation of importation of vehicles and tractors acquired with one’s own foreign currency

A Joint Resolution, issued by the Ministries of the Popular Power for Economy, Finance, and Public Banking, for Commerce, and for Industries, was published in Official Gazette No. 40,522 of October 20, 2014. Said Resolution provides for the facilitation of the importation of goods without commercial purposes acquired with one’s own foreign currency. The purpose of the Joint Resolution is to regulate the procedure for facilitating the importation of tractors and motor vehicles for transportation of persons and/or merchandise without commercial purposes, which are acquired for productive or personal use by natural persons (of legal age and legally competent) or legal persons that possess the foreign currency necessary to that end, after complying with the procedure established in the Organic Customs Law and other legal provisions applicable to customs matters and with the provisions of the Joint Resolution.

 

The Joint Resolution establishes a temporary exemption from filing the Import License, administered by the Ministry of the Popular Power for Commerce, and any other requirement, certificate, permit or evidence of registration, except for the filing of the Certificate of Origin and the Vehicle Identification Number (Número de Identificación Vehicular - “NIV”), when applicable, for the tractors and motor vehicles for transportation of persons and/or merchandise specified in the Joint Resolution.

 

All legally competent natural persons, of legal age, may import, without commercial purposes, only one (1) vehicle every three (3) calendar years, under the regime described in the Joint Resolution. To that end, a sworn statement indicating the origin of the funds used for the acquisition of said goods must be made by such natural persons and filed, together with the Declaración Única de Aduanas (“DUA” – Single Customs Declaration), with the customs authority. Likewise, legal persons may import, without commercial purposes, tractors and motor vehicles for transportation of persons and/or goods, regardless of the quantity, always provided that they make a sworn statement indicating the use of the vehicles and tractors, which statement must be filed with the customs authority, together with the DUA.

 

The Joint Resolution became effective upon its publication in the Official Gazette.

 

In order to access the Joint Resolution, 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.”