The national government published in the Official Gazette the date on which the elimination of the Tax on Large Financial Transactions (IGTF) comes into effect.
In this regard, Decree No. 4,972 in the Extraordinary Official Gazette 6,281 establishes that the repeal of IGTF comes into effect on July 15.
According to this legal instrument, the IGTF will be 0% for transactions carried out (in bolivars) by taxpayers indicated in numerals 1 to 4 of article 4 of the Law on Tax on Large Financial Transactions.
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Elimination of IGTF in the Official Gazette
President Nicolás Maduro announced the elimination of the Tax on Large Financial Transactions (IGTF) paid by companies in bolivars (2%), during the National Council of Productive Economy, held at the new convention center located in La Carlota, Caracas.
“I am signing to eliminate it ipso facto. We are already in a position to do so,” Maduro informed the businessmen. While the 3% IGTF on foreign currency remains in force
First, consider that the elimination of the IGTF in bolivars will stimulate the use of the national currency and reduce costs for companies.
The president of the union, Orlando Camacho, indicated during an event reported by Unión Radio that the proposals of the businessmen were heard by the executive.
He commented that this repeal of the 2% IGTF “will allow the use of the bolivar more quickly, more consistently, encourages the use of the bolivar and also reduces the cost to companies.”
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2024-07-17 17:44:14
