Presidential Decree No. 2,394 (the "Decree") (Official Gazette No. 40,950 of July 26, 2016) exonerated from VAT liability, customs duties and customs services fees, the final importation of assets for the construction repair, restoration, improvement and maintenance of houses or their demolitions under the Decree of Emergency for Lands and Housing, Venezuelan Housing Mission (v. http://www.minhvi.gob.ve/) and the Barrio Tricolor Mission (v. http://www.barriotricolor.gob.ve/) made by Government offices, Government-owned entities and companies. The Decree exonerated from VAT liability the provision of independent services that organs and entities of the Public National Administration hire that are executed or used in Venezuela or abroad in the execution of projects described above. The Decree entered into force on July 26, 2016 and will remain in force during three years.
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