The Venezuelan Government exonerated the payment of VAT for two years on final imports of movable tangible property made by organs of the National Public Administration ("Administration") and the provision of certain services, for constructing peace gymnasiums in Venezuela. The exoneration will be effective from July 31, 2019 to July 31, 2021.
The beneficiaries must submit to the import customs office the description of the goods to be imported and the commercial invoice issued in the name of the body or agency of the Administration. If the beneficiary prefers to make the imports through a different customs office, it must notify the original customs office. Customs offices must keep a record of VAT-exempt operations, identifying: (a) the number and CIF value of the goods; (b) the import tax and exempt VAT; (c) surcharges, countervailing duties, anti-dumping rights and late payment interest.