July 2019 Managerial Alerts
EXTENSION OF THE TIME PERIOD FOR FILING THE UPDATED SWORN DECLARATION OF PROPERTY OWNED The Comptroller General’s Office of the Republic, through Resolution No. 01-00-000420, published in Official Gazette No. 41.683 of July 30, 2019, resolved to extend from August 1st to August 31st, 2019 the period of time for filing the updated sworn…
TOTAL PROHIBITION AGAINST ADVERTISEMENT, PROMOTION AND SPONSORSHIP OF TOBACCO PRODUCTS Resolution No. 071 of July 18, 2019, issued by the Ministry of the Popular Power for Health, was published in Official Gazette No. 41.678 of July 19, 2019 (the “Resolution”). The Resolution established the guidelines for the total prohibition against advertisement, promotion and sponsorship,…
IT PAYMENT EXEMPTION DECREE – PRIMARY EXPLOITATION OF AGRICULTURAL ACTIVITIES Decree No. 3.920 of July 19, 2019, issued by the President of the Republic, was published in Official Gazette No. 41.678 of July 19, 2019 (the “Decree”). The Decree establishes an exemption from Income Tax (“IT”) for the net income from Venezuelan source deriving…
CONSTITUTIONAL LAW THAT CREATES THE TAX ON LARGE PATRIMONIES The Constitutional Law that Creates the Tax on Large Patrimonies, issued by the Constituent National Assembly, was published in Official Gazette No. 41.667 of July 3, 2019 (the “Law”). The tax will be imposed on the net worth of special taxpayers with a patrimony…
