Venezuela
Individual - Sample personal income tax calculation
Last reviewed - 20 August 2025
Assumptions:
- Annual individual tax calculation for 2025.
- Foreign resident who earns a salary and is married with two children.
- Wife and descendants have no income.
- Husband earns VES 206,316 in the year.
- TU value is VES 43 (considering the new currency expression).
- Remuneration:
- Salary, allowances, profit sharing, vacation bonus, and other income totals VES 180,000
- Standard deduction is TU 774 (VES 33,282.00).
| Tax computation |
TU |
VES |
| Gross income |
20,000.00 |
860,000.00 |
| Deductions: |
|
|
| Standard deduction |
(774.00) |
(33,282.00) |
| Taxable income |
19,226.00 |
826,718.00 |
| Income tax |
5,661.84 |
243,459.12 |
| Tax credits: |
|
|
| Personal tax credit |
(10.00) |
(430.00) |
| Credit for spouse |
(10.00) |
(430.00) |
| Credit for children |
(10.00 each) |
(860.00) |
| Income tax due |
|
241,739.12 |
| Less: Income tax withholdings (tax advances) |
|
(5,300.00) |
| Income tax payable |
|
236,439.12 |
