The Venezuelan state media, Venpres, reported on Wednesday that the government is mulling a new financial transactions tax as it attempts to keep control of the nation’s currency.
Edgar Hernandez Behrens, the head of Cadivi, the state controlled currency board, has been quoted as saying that the board is currently in the process of drawing up proposals for the new tax, which will also include a capital repatriation levy.
Additionally, it was reported that the official favours the present system of currency controls which he said will remain in place for an indefinite period.
The Venezuelan government, led by President Hugo Chavez, first began imposing currency controls in February last year in a bid to stem the outflow of dollars from the country following a two month oil industry strike.
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