Presidential Decree No. 3,451 (the "Decree"), in force since 25 July 2018, exonerated the payment of customs duties and customs service fee on the final imports of the assets stated below, for a specific time. Oddly enough, the Decree did not include the exoneration of the VAT, when usually in Venezuela import exonerations include such tax. The VAT exoneration may be granted in a separate decree.
|Type of asset||Term of the exoneration|
|1. Movable tangible property, new or with less than three years of use imported by (i) the National Public Administration, with internal resources or (ii) by individuals or legal entities, destined to the manufacturing sector or inputs, raw materials, spare parts, consumables and rotables, equipment, tools and machinery for agriculture, agroindustry, petrochemistry, aquaculture and fishing that are not produced in Venezuela or whose production is insufficient.||Until 31 December 2019|
|2. Products imported by the National Public Administration, individuals or legal entities, elaborated by the textile industry; footwear; foodstuffs; lubricants and its by-products, products for personal hygiene and home cleansing, and medicines, that are not produced in Venezuela or whose production is insufficient.||Until 31 December 2018|
Under the Decree the Ministers of the People's Power of Industry and National Production; Economy and Finance; Agriculture and Land Productivity; Health; and Foodstuff; must issue a joint Resolution in the seven business days following 25 July 2018, indicating the customs tariff codes of the assets that will benefit from the exoneration. To claim the exoneration the beneficiaries must request and obtain from the mentioned Ministers their favorable opinion.
The exoneration will apply even if the assets are imported whole or in pieces, parts and/or components.
To benefit from the exoneration, the beneficiaries must provide the customs office these documents:
- The list of assets import;
- Commercial invoice issued to the beneficiary; and
- Official letter of exoneration of customs duties and customs service fee, issued by the National Service Integrated of Tributary and Customs Administration (SENIAT).
The customs office must control the exonerated operations, the number of assets and their CIF value, the applicable customs duties and the amount exonerated, and the recharges, countervailing duties, anti-dumping charges, late payment interest, and other expenses caused by the import.
 Official Gazette No. 41,456 of August 8, 2018. Reprinted due to mistakes in the original.