Joint Resolution of the Ministries of the People´s Power for Industry and National Production, Economy and Finance, Productive Agriculture and Lands, Fisheries and Aquaculture, Food, Health, Oil and Foreign Trade and International Investment Nos. DM / N ° 020, 077, 069, 031, 044,199,107 and 033 respectively, of 9 August 2018, was published in the Extraordinary Official Gazette No. 6,393 of 14 August 2018 (the "Resolution"). The Resolution determines the tariff codes for the merchandises subject to exoneration of the payment of the import tax and rate for determination of the customs regime, thus complementing Decree No. 3,547 of July 25, 2018, reprinted by Official Gazette No. 41,456 of 8 August 2018 ("Decree").

The Resolution identifies the merchandise that will be subject to the exoneration until 31 December 2018 and 2019 by its tariff codes. According to the Decree:

  1. Until 31 December 2018: according to the provisions of article 2 of the Decree, the final imports of manufactured products from the following sectors: textile; footwear; foods; lubricants and their derivatives; products for personal hygiene; for the hygiene and cleaning of the home and medicines, will be covered by the exemption. These goods are determined in Annex II of the Resolution and cover a total of seven hundred and fifty (750) tariff codes.
  2. Until 31 December 2019: according to the provisions of Article 1 of the Decree, final imports that are destined by individuals or legal entities to the manufacturing industry or constituting inputs, raw materials, spare parts, consumables and rotables, equipment, tools and machinery for agriculture, agroindustry, petroleum industry, petrochemical industry, fisheries and aquaculture, not produced in the country or with insufficient production will be covered by the exemption. These merchandises and their corresponding tariff code are listed in Annex I of the Resolution and comprise a total of seven thousand three hundred thirty-one (7,331) tariff codes.

Specific Regulations

Procedures: The competent authorities for the issuance of permits and certificates and that are responsible for the procedures associated with the application of the Decree, shall ensure the application of the principles of simplification, promptness, transparency, use of information technologies, efficiency and effectiveness. They shall promote the expedite execution of these procedures, under the assumptions of good faith and subsequent control, without being able to demand any additional requirements to those established in said Decree and the applicable legal regulations, which must be assumed in brief procedures.

Since 14 August 2018, the beneficiaries of the exemption set forth in the Decree must plan accordingly, in order to boost the national production of the merchandises listed in Annexes I and II of the Resolution, increasing its productive capacities for the national supply and export of the surplus.

Call upon authorities to collaborate: The Resolution urges all civil, police and military authorities, as well as the public and private sectors and individuals in general, to collaborate in the strict compliance, special vigilance and control of the rules set forth in the Decree and the Resolution. It further calls to report any irregularity (or presumption of it), that violates its execution, in defense of the right of the Venezuelan people to the timely and stable supply of the merchandises covered by the exemption.

Up to the date for the preparation of this Alert we have known that such benefit is being processed by the customs import offices.

Entry in force: The Resolution entered in force on 14 August 2018.

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