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The National Executive of Venezuela issued the Decree No. 4,967 on 28 June 2024 ("Decree")1, declaring an extension until 31 August 2024, on the imports benefits and exemptions of goods established in the Decree No. 4,9072. The Decree entered into force on 1 July 2024 and if a new extension is not enacted before 31 August of the current year, it will no longer have any dispensatory effect3.
It is important to note that the exemptions and benefits established in the Decree No. 4,907 are updated to the current tariff nomenclature according to the New Customs Tariff - Amendment VII4, and the correlation list published by the Venezuelan Revenue Service (SENIAT for its acronym in Spanish)5.
Click here to read the Spanish version.
1 Published in Official Gazette No. 6,818 on 28 June 2024.
2 Published in Official Gazette No. 6,784 on 29 December 2023. For more information, read our Client Alert available at Venezuela: Decree establishes tax exemptions for imports of goods until 30 June 2024.
3 As a consequence of the entry into force of the VII Amendment, consignees should review the tariff code correlation lists in order to avoid fines or delays at the time of nationalizing their goods. In this regard, on July 10, 2024, the SENIAT issued Circular No. SNAT/INA/2024/-0001549 on 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 considering the provisions of the Decree.
4 For more information, read our Client Alert available at Venezuela: New customs tariff (Amendment VII).
5 Available here.
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