Venezuela

Designation of new Value Added Tax withholding agents 

Administrative Ruling N° SNAT/2025/000054 designated Value Added Tax withhodling agents was published in Offical Gazette N° 43.171 date July 16, 2025. The main change on the previous Ruling relates to withholding agents, as the Ruling provides that that all individuals designated and notified as special taxpayers who are incorporated as sole proprietorships will also qualify as VAT withholding agents. The rest of the rules regarding applicable withholding and procedures, are maintained. The Administrative Ruling entered into force on August 1^st.

Suspension of Value Added Tax exemption on imports

The application of the VAT exemption provided by Law on the imports of basic food products, medicines, fertilizers, medical equipment, as well as books, newspapers, and specific fuels has been suspended by Presidential Decree N° 5145 published on June 30, 2025. The Decree entered into force on July 5.  

Decree 5.145 also provides for a VAT exoneration for definitive imports of tangible personal property, carried out by the bodies and entities of the National Public Administration, as well as those carried out with own resources by natural or legal persons, classified in the tariff codes indicated in Appendix I of the Decree. The exemption will apply for a period of one (1) year, counted from its entry into force.