CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Venezuela Increases Tax Burden On Large Taxpayers

Venezuela Increases Tax Burden On Large Taxpayers

by Mike Godfrey, Tax-News.com, Washington

06 January 2016


The President of Venezuela, Nicolás Maduro, signed a decree on December 30, 2015, introducing a package of revenue-raising tax reforms.

Maduro said that the reforms are aimed at big businesses and high-income individuals and will affect only around 3,000 taxpayers.

The reform package includes measures to tackle tax evasion and a 0.75 percent tax on large financial transactions.

Revenue from the reforms will be used to fund social projects, Maduro said.

Maduro's authority to issue decrees expired on December 31, 2015. The President's party lost control of the legislature in the December 6 election, with opposition candidates taking a majority of seats.

TAGS: individuals | compliance | tax | economics | business | tax compliance | Venezuela | fiscal policy | tax reform | Tax | Tax Evasion | Financial Transactions Tax (FTT)

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »