In late 2011 and during 2012, the Venezuelan government granted the following VAT exonerations:
- Importation of personal property and provision of services related to the start-up of the mixed company for the production of construction inputs
Presidential Decree No.8.699 (Official Gazette No. 39.819 dated 13 December 2011) granted a VAT exoneration on the final imports of tangible personal property and the provision of certain services. The exoneration is applicable to imports made and services contracted by the agencies and entities of the National Public Power to be used solely in the performance of the “Project for Construction and Start-up of the Mixed Company for the Production of Construction Inputs.” Said mixed company was organised by the governments of Venezuela and Belarus (Official Gazette No. 38.812 dated 16 December 2007). Among others, the exonerated goods include sets of mirrors, joints or gaskets, bolts, nuts, washers, pins, dowels, fuel system injectors, high-pressure fuel pump, water pumps, automotive vehicle compressors, oil filters, air conditioning filters, belt and chain conveyors, road tractors for semi-trailers, bulldozers, suspension dampener and radiators. The services rendered include topographic plotting, conditioning and leveling, professional building of locker rooms and cabins, construction of mesh gates, provisional adduction of clear waters and electricity, deforesting, excavation, sanitary facilities, and assembly and start-up of technological equipment, among others. The exoneration is valid for two years from 13 December 2011 until 13 December 2013.
- Importations of goods for the members of the Bolivarian National Armed Forces
Presidential Decree No. 8.780 (Official Gazette No. 39.850 dated 25 January 2012) granted a VAT exoneration on final imports of 10,000 Chevrolet Corsa GI, Engine: 1.8 litres, Year: 2011 vehicles, made by the agencies and entities of the National Public Power to be used exclusively for the social security programme for the members of the Bolivarian National Armed Forces. The benefit will last until 25 January 2013.
- Dredging services on Lake Maracaibo
Presidential Decree No. 9.028 (Official Gazette No. 39.932 date 29 May 2012) granted a VAT exoneration on the provision of services regarding the maintenance and deepening of the sectors of the Lake Maracaibo navigation channels using self-driven hopper dredges services, performed or used in Venezuela, including foreign services contracted by the agencies and entities of the National Public Administration to be used solely for the performance of the “Project for the Adaptation of the Maracaibo Lake Navigation Channel.” The exoneration will be valid until 29 May 2015.
- Final importation of vehicles to be used in the National Electric System
Presidential Decree No. 9.108 (Official Gazette No.39.970 date 23 July 2012) granted a VAT exoneration on the final importation of 200 units of Toyota Land Cruiser 78 (GRJ78L-RJMRK) and 100 Toyota Land Cruiser 79 pickup (GRJ79L-TJMRK) vehicles made by the agencies or entities of the National Public Administration to be used solely for the maintenance, attention of failures, inspection and supervision of the national electric system. The exoneration will be valid until 23 July 2013.