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Venezuela: Tax developments in response of COVID-19

General Information

This page offers an overview of tax developments being reported globally by KPMG member firms in response to the Novel Coronavirus (COVID-19).

The content will be updated regularly. However, due to the fast-moving pace of change, it may not always reflect the most current developments in a given jurisdiction. Please refer to the date of accuracy and refer to the relevant links, under additional information, for original source information.

Date accurate as of: 10 June 2020

In Venezuela, a number of measures have been introduced due to the COVID-19 pandemic. In particular:

  • A few Municipalities have granted extensions on filings and payments of municipal taxes that are assessed on gross income from commercial industrial activities.
  • Imports made by the public sector to avoid the extension of COVID-19 will be exempt from custom and value added taxes.
  • No benefits, extensions or incentives have been announced in relation to indirect national taxes.

Income Tax

On April 2, 2020, Decree N° 4171 was published, the contents of the decree, follow:

  • Exemption from income tax for resident individuals of their net income of territorial source, obtained during the 2019 tax year. 
  • To enjoy this tax benefit, income obtained at the end of the 2019 tax year must not exceed the amount equivalent to three (3) minimum wages in force at December 31, 2019 
  • The decree entered into force on April 2, 2020.

Additional Information