Venezuela Gazettes Decree Extending Temporary VAT Exemption Period for Import, Sale of Hydrocarbon Fuels

The Venezuelan Official Gazette Jan. 9 published Decree No. 5,207, extending the temporary VAT exemption period to Jan. 11, 2027, from Jan. 12, 2026, for the import and sale of hydrocarbon fuels and additives improving gasoline quality. The decree includes measures: 1) applying the exemption to operations carried out by the state, state owned companies, mixed ownership companies, and private companies in line with the Organic Hydrocarbons Law; 2) establishing documentation requirements for beneficiaries; 3) outlining customs procedures for implementing the exemption; and 4) mandating semi-annual evaluation by the National Integrated Service of Tax and Customs Administration (SENIAT). The decree ...