{"id":2620,"date":"2019-02-14T08:00:47","date_gmt":"2019-02-14T12:00:47","guid":{"rendered":"https:\/\/venfort.com\/?p=875"},"modified":"2019-02-14T08:00:47","modified_gmt":"2019-02-14T12:00:47","slug":"tax-provisions","status":"publish","type":"post","link":"https:\/\/venfort.com\/en\/disposiciones-tributarias\/","title":{"rendered":"New foreign currency tax provisions in 2019"},"content":{"rendered":"

Since mid 2018, the national government has evaluated and applied economic measures to try to face the current crisis. This is why in August of last year the National Constituent Assembly issued a Decree by which it repealed the regime of illicit foreign exchange.
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On tax provisions<\/h2>\n\n\n\n

The 2018 decree, published in the Official Gazette No. 41.452<\/strong>, states that the purpose of the repeal<\/a> en \"to grant national or foreign individuals the broadest guarantees for the performance of their best participation in the country's productive socio-economic development model.<\/em>\". However, the legal instrument indicates that those who have been penalized before its entry into force will not be exempted from the crime for assuming the action of a deed detrimental to the public patrimony.<\/p>\n\n\n\n

In order to extend the powers granted after the repeal, on December 28 of the same year the Official Gazette number 6.420 Extraordinary<\/strong>In the case of the new tax regime, a decree related to the new tax regime was published, aimed at taxpayers who carry out commercial operations within the country in foreign currency or cryptocurrencies. It is important to remember that the taxpayer will be the individual or legal entity on which the payment of the tax or tribute falls and therefore, is obliged to comply and enforce the tax obligations.
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The aforementioned decree establishes that taxpayers who carry out any of the activities authorized by the decree<\/strong> In accordance with the Exchange Agreements in force, they must determine and pay the main and accessory tax obligations (penalties and interest) in foreign currency or cryptocurrencies. Exempted from the application of the normative text are the operations of securities traded in the Stock Exchange, as well as the export of goods and services carried out by public entities.
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Download here an analysis of Alan Aldana & Abogados on the new decree that has been in force during the first two months of the year.<\/a><\/h3>\n\n\n\n

Sources:<\/h4>\n\n\n\n