President Maduro signs decree to eliminate the IGTF

The President of the Republic, Nicolás Maduro, signs a decree to eliminate the tax rate on Large Financial Transactions (IGTF) in bolivars.

“I am signing the decree to eliminate ipso facto the 2% of the IGTF. We are already in a position to do so and what needs to be increased is the efficiency in the collection of the other taxes that exist,” he said during the National Council of Productive Economy.

President Maduro signs decree to eliminate IGFT

The president said that this decision will contribute to strengthening the banking and financial system of Venezuela.

The announcement was made as part of a series of actions to promote national production.

“I ask the National Assembly, Deputy Jorge Rodríguez, if possible, (that) on Tuesday it be included in the agenda and we, next Thursday, will be able to sign and execute the law on facilitating non-oil imports.“, he claimed

He said that this legal measure will facilitate the development of Venezuela’s export capacity.

Maduro signs decree to eliminate the IGTF.

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