ADMINISTRATIVE RULING THAT READJUSTS THE TAX UNIT AT BS. 0.40

Administrative Ruling No. SNAT/2022/000023, 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. 42.359 of April 20, 2022 (the “Ruling”). The Ruling readjusted the value of the Tax Unit (“T.U.”) from zero point zero two Bolivars (Bs. 0.02) to zero point forty Bolivars (Bs. 0.40).

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; it may not be used by other agencies and entities of the national government for determining labor benefits or special rates and contributions derived from the services rendered by them.

Administrative Ruling SNAT/2021/000023, dated April 6, 2021, published in Official Gazette No. 42.100 of the same date, was repealed.

The Ruling became effective upon publication of the same in the Official Gazette.

In order to access the Ruling, please click here.

Should you have any question or comment or require further information, please contact the partner in charge of your account via e-mail.