On March 7, 2019, Administrative Ruling No. SNAT/2019/00046 issued by the Integrated National Service of Customs and Tax Administration (SENIAT) was published in the Official Gazette No. 41,597, by means of which the value of the Tax Unit ("U.T." by its acronym in Spanish) was readjusted from seventeen bolivars (Bs. 17.00) to fifty bolivars (Bs. 50.00).
Purpose
To readjust the value of the U.T. from seventeen bolivars (Bs. 17.00) to fifty bolivars (Bs. 50.00).
Restricted use to national taxes and sanctions attributed to SENIAT
The Providence establishes that the new value of the U.T. can only be used as a unit of measure for:
(i) The determination of the national taxes whose collection and
control are within the competence of the SENIAT;
(ii) Sanctions imposed by said Service.
Likewise, it is expressly provides that the new value of the T.U. cannot be used by other organs or entities of the Public Power for the determination of labor benefits or special levies and contributions derived from the services they render.
Applicability to tax obligations
In the case of taxes settled by annual periods, the applicable U.T. shall be the one that was in force at least one hundred and eighty three (183) continuous days of the respective period.
In the case of taxes settled by periods different from the annual period, the applicable U.T. shall be the one in force at the beginning of the period.
Entry into force
The Providence came into force on March 7, 2019.
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