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The National Executive of Venezuela issued Decree No. 4,985 on 30 August 2024 ("Decree")1, extending until 31 December 2024 the import benefits and exemptions of goods established in Decree No. 4,9072. The Decree entered into force on 1 September 2024, and, if a new extension is not enacted before 31 December of the current year, it will no longer have any dispensatory effect.
It is important to note that the exemptions and benefits established in Decree No. 4,907 have been updated to the current tariff nomenclature according to the New Customs Tariff — Amendment VII3 and the correlation list published by the Venezuelan Revenue Service (SENIAT for its acronym in Spanish)4.
Click here to read the Spanish version.
1 Published in Official Gazette No. 42,953 on 30 August 2024.
2 Published in Official Gazette No. 6,784 on 29 December 2023. For more information, read our client alert: Venezuela: Decree establishes tax exemptions for imports of goods until 30 June 2024.
3 SENIAT's Circular No. SNAT/INA/2024/-0001549, published in Official Communication No. DM/2024/No. 000599, notifying the extension of the validity of the Certificates of Non-Production or Insufficient Production (CPN/CNPI) until 31 August 2024, will not be applicable under this Decree. For more information, read our client alert: Venezuela: New customs tariff (Amendment VII).
4 Available here.
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