Venezuela VAT

Venezuela implemented its Value Added Tax (VAT) regime on the 1st October 1993. The VAT system follows the OECD-model, with tax due and reclaimable throughout the supply chain until the final consumer.

VAT, Impuesto al Valor Agregado (IVA), is set by the Ministry of Finance and administered by Seniat, the tax revenue service.

What activities require a Venezuelan registration?

Resident companies providing the following taxable goods or services may have to apply for a VAT registration number:

  • Sales of goods, including assets and real estate, within Venezuela, or goods exported from the country
  • Sale of services or intangibles within the country
  • Importing goods for onward supply to reclaim the import VAT
  • Organisation of live events and conferences

Most B2B and B2C services provided to Venezuela businesses do not require a registration for the foreign provider – the reverse charge should be applied instead.

Latest news

Venezuela raises VAT to 16%

August 22, 2018

Venezuela has introduced an emergency 4% VAT rise to 16% from 1 September 2018...

Venezuela reduces VAT on credit cards to cut fraud

September 23, 2017

Venezuela has announced VAT rate cuts to its standard VAT rate of 12% when businesses or consumers use their bank...

Venezuela offers discounted VAT on card payments

December 25, 2016

Venezuela is to offer a 2% VAT rate discount to consumers purchasing goods or services by electronic payments, including credit cards and wire transfers...