Increase in the General Vat Rate to 16%.

BENSON, PEREZ MATOS, ANTAKLY & WATTS

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Caracas, August 21, 2018

TAX REPORT

Decree Increasing the General Value Added Tax Rate

  1. Decree No. 3,584, whereby the Executive Branch is increasing the general rate for the Value Added Tax, applicable during the remainder of 2018 and during 2019, to sixteen percent (16%), has been published in Official Gazette Special Issue No. 6,395, dated August 17, 2018. This rate will be applicable to all goods and services traded in the country, with the exception of those entitled to the exemptions provided for in the Law as amended in 2014.The Decree stipulates that the new rate will become effective on September 1, 2018.

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Yours truly,

BENSON, PÉREZ MATOS, ANTAKLY & WATTS

Ysabel N. Figueira G

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