In brief
On 2 May 2022, the National Assembly published the Partial Reform Law with the Rank, Value and Force of Law Against Corruption (“Reform“).1
The Reform introduced, among others: (i) a broader definition of “Public Patrimony”; (ii) the obligation for electronic filing of the Sworn Statement of Net Worth through the creation of an automated system under the direction of the Office of the General Comptroller of the Republic; (iii) the annual update of the Affidavit; (iv) an increase in the sanctions by changing the Tax Unit (TU)2 for the official exchange rate of the currency of the highest value published by the Central Bank of Venezuela at the time of the payment; and (v) the unpaid suspension term for public officers who incur on the cases detailed below.
The Reform entered into force on 2 May 2022 and partially repealed the Reform Law of the Law Against Corruption published on 19 November 2014 (“Law“).3
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