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Venezuela raises VAT to 16%

  • Aug 21, 2018 | Richard Asquith

Venezuela raises VAT to 16%

Venezuela has introduced an emergency 4% VAT rise to 16% from 1 September 2018. The hike will be temporary until 31 December 2019.

The country is experiencing hyperinflation, and its currency, Bolivar, was devalued by 96% this week.


VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He can be contacted at: richard.asquith@avalara.com. He is part of the European leadership team which won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.