VATLive > Blog > Venezuela > Venezuela hikes VAT on foreign currency settlements

Venezuela hikes VAT on foreign currency settlements

  • Feb 8, 2020 | Richard Asquith

Venezuela is to introduce a new, higher VAT rate for transactions settled in foreign currencies or cryptocurrencies.

The standard VAT rate in the South American country is 16%. From 28 February 2020, the new additional rate of between 5% and 25% will be introduced on sales in currencies not supported by the Venezuelan treasury. Normally zero-rated transactions, including exports, will also be subject to the new rate.

Latest Venezuelan news

Total results : 4
avalara:content-tags/asset-type/blog-post,avalara:content-tags/tax-type/vat,avalara:content-tags/location/world/latin-america/venezuela
Nov-8-2022

UK VAT Guide - Avalara

avalara:content-tags/asset-type/blog-post,avalara:content-tags/tax-type/vat,avalara:content-tags/location/world/latin-america/venezuela
Jul-5-2022

North America Country VAT Guide - Avalara

avalara:content-tags/asset-type/blog-post,avalara:content-tags/tax-type/vat,avalara:content-tags/location/world/latin-america/venezuela
May-31-2022

Finance and tax compliance: make your business grow faster


VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is the former VP Global Indirect Tax at Avalara
VATlive newsletter