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.
Other resources
This guide covers the essential steps ecommerce sellers need to take now that the UK has left the EU Customs Union and VAT regime to keep their cross-border sales going, avoid extra tax costs and frustrated customers.
Read the report to learn about key industry trends, emerging issues, and challenges faced by cross-border sellers and shippers.
Manage international tax with cross-border solutions for VAT, HS code classification, trade restrictions, and more.
