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Venezuela flag Venezuela:

Venezuelan Market : Consumption taxes

Consumption Taxes

Nature of the Tax
Value-added tax (VAT) - Impuesto al valor agregado (IVA)
Tax Rate
Standard rate: currently 16% (may change every year, ranging from 8% to 16.5%).
15% additional rate on certain luxury goods, including vehicles and jewellery.
An additional tax rate ranging from 5% to 25% is applicable to goods and supply of services paid in foreign currency, cryptocurrency, or crypto assets different from those issued or guaranteed by the Bolivarian Republic of Venezuela.
Reduced Tax Rate
Exempted goods and services include food and goods for personal consumption such as bread, rice, salt, sugar, coffee, milk, pasta and margarine; books, newspapers and magazines; education provided by institutions registered in the Ministry of Education, Culture and Sports and the Ministry of Superior Education; public transportation of passengers by land or sea; tickets to national parks, museums and cultural centers; banking and insurance services; imports made by diplomatic agents, in accordance with international treaties subscribed to by Venezuela; medical assistance services; residential electricity; fertilizers.

Exports of tangible personal property and tangible movable property and exports of services are zero-rated.

The 15% additional rate applies to membership and maintenance fees of restaurants, nightclubs and bars with restricted access; the rental of ships or aircraft for civilians, among others, for recreational activities or sports; services provided by third parties through text messaging or other technological means; cars imported or manufactured in the country with a value equal to or higher than USD40,000; motorcycles imported or manufactured in the country with a value equal to or higher than USD20,000; airplanes used for exhibitions, advertisement, recreation or sports purposes; ships and vessels for recreation and sports purposes, or for the particular use of its owner; gaming machines that use coins or cards; caviar; lease of ships for recreation and sports purposes or airplanes used for exhibitions, advertisement, recreation or sports purposes; services rendered on behalf of third parties, through text messages or other technological means.

Other Consumption Taxes
The import and national production of cigarettes and tobacco (proportional tax levied at a rate of 70% on the retail price of cigarettes, tobacco, and its derivates) and the commercialisation and import of alcohol and alcoholic beverages into Venezuela are subject to excise taxes.

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Latest Update: July 2022