PCV pronounces on reform of the IGTF

This Monday, the Communist Party of Venezuela (PCV) rejected the actions by the administration of Nicolás Maduro and the elimination of the Large Financial Transactions Tax (IGTF) for special taxpayers.

Maribell Díaz, member of the PCV Political Bureau, explained that These types of actions are sectorizedTherefore, although they translate into good news for businessmen, they do not have a major impact on the national population.

“Everything for the national bourgeoisie; but nothing for the people,” he commented. “The lady who goes to the supermarket with the dollar, with three dollars, with five dollars, she does pay tax; But Fedecámaras and Consecomercio were repealed and were left without paying a cent to the nation.”.

Last Friday, Maduro signed the decree that ended the IGTF for special taxpayers.

“I sign the decree to eliminate 2% of the IGTF, but we must increase efficiency in the collection of taxes that exist adapted to the need to produce more”Maduro explained during an event in Caracas.

In his opinion, The measure was taken after requests made by businessmen.

The decision, Maduro added, is to strengthen the country’s banking system, as well as national production.

The Large Financial Transactions Tax Law was approved in 2022 in the 2020 National Assembly. By then, Parliament indicated that the objective of the tax was to “recover the Venezuelan economy.”