Venezuela: Rules issued on the maximum limit of incentives for the development of participation projects in SEZs

17 Jun 2025    1 minute read
Special Economic Zones

In brief

On 9 May 2025, the People's Ministry of Economy and Finance ("Ministry") issued Resolution No. 015-25, which establishes the Rules on the Maximum Limit of the Total Incentives Granted for the Development of the Participation Projects in the Special Economic Zones1 (SEZs) ("Resolution"). The Resolution became effective on the same date as its publication, i.e., 9 May 2025.

The Resolution establishes the parameters for calculating the maximum limit of incentives granted for the development of participation projects in the SEZs.

Contents

In detail

The most relevant aspects of the Resolution are highlighted below:

  1. Maximum limit
  • A maximum limit of 15 business days is established as of the end of the official period for the income tax return, based on the amount collected in the previous fiscal year.
  1. Base year
  • The year 2024 is established as the starting base year for the establishment of the limit of incentives granted for the development of projects that have been created or adapted as of 2023. The year 2024 will be computed from the date after the culmination of the official income tax return period of 2023.
  1. Distribution
  • A limit of incentives granted for the development of projects created or adapted as from 2023 is established at 4% of the amount collected in the fiscal year 2024, corresponding to the amount of VEB 1.16 billion or its exchange equivalent for the date of collection. The incentives will be distributed in accordance with the methods determined by the National Superintendence of Special Economic Zones and published by administrative ruling.

For more information about SEZs, click here.

We remain at your disposal should you require further details or explanations on the general aspects highlighted in this alert and any other related query.

Click here to read the Spanish version.

1 Published in Official Gazette No. 43,124 on 9 May 2025.

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Caracas
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Caracas
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beatriz.riviereherrera@bakermckenzie.com

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