As of August 1 of the current year, merchants and service providers must display the prices and rates in current bolivars (Bs.) and in Sovereign bolivars (Bs.S), as part of the familiarization process with the new monetary cone. , as established by Decree No. 3,548 published in Official Gazette No. 41,446, dated July 25, 2018.
The Sovereign Bolivar comes to simplify procedures for the declaration and payment of taxes, so that all actors in the public sector should promote socialization around the process of monetary reconversion.
It is worth remembering that this conversion will take effect on August 20 and involves the elimination of five zeros to the current monetary cone composed of 8 bills (Bs.S 2, Bs.S 5, Bs.S 10, Bs.S 20, Bs .S 50, Bs.S 100, Bs.S 200 and Bs.S 500) and two coins (50 cents and Bs.S 1).
By means of this, it is expressly understood that the Central Bank of Venezuela (BCV), exercising its powers, will regulate, through resolutions of its board of directors, all matters concerning the rounding applied as a result of the monetary reconversion.
The measure announced by the head of state, has as its main objective to strengthen the value of the Bolivar and stabilize the economy before the ravages of induced inflation.
