The national government published Decree No. 4,972, reflected in the Extraordinary Official Gazette 6,281, which establishes that the elimination of the Large Financial Transactions Tax (IGTF), in bolivars, will come into force as of this Monday, July 15. This is how it was announced in the Gazette on the X social network.
In accordance with this legal instrument, the IGTF will remain at 0% for transactions carried out (in bolivars) by the taxpayers indicated in sections 1 to 4, of article 4 of the Large Financial Transactions Tax Law.
On July 12, during a meeting with the business sector, the president of the Bolivarian Republic of Venezuela, Nicolás Maduro, announced the repeal of the IGTF: “You, businessmen, proposed reducing the IGTF payment, which is equivalent to two percent, I have signed the decree to eliminate it ipso facto,” he said during a meeting with the National Council of Productive Economy.
The head of state highlighted that with this measure, businessmen will have a greater possibility of transactions to strengthen the nation’s financial system. “Now you will have a better set of benefits.”
Venezuela Official Gazette #6821 07/12/2024
SUMMARY
PRESIDENCY OF THE REPUBLIC
IGTFhttps://t.co/cgfooTL4p7#gacetaoficial #gacetaoficialvenezuela #gaceta-oficial #gaceta_oficial https://t.co/7kjTB1iR9u pic.twitter.com/a054QRWBpt
— VE Official Gazette (@GacetaOficial) July 14, 2024