The Venezuelan Government clarifies to whom it will apply the Taxes on Large Transactions
The Government of the Bolivarian Republic of Venezuela has launched a campaign, which I call the "reduction campaign" regarding the taxpayers who will be charged with the tax on large transactions, which ranges from the application of 3% 20% to such transactions.
Through its spokespersons, deputies of the National Assembly of that country, it has been referring repeatedly in recent days to those who are supposedly exempt from paying said tax for the use of foreign currencies or cryptocurrencies, as a way to revive the use of the devalued Bolívar and keep it at rates that do not break exaggerated inflationary barriers again.
Recently, the President of the Economy and Finance Commission of the National Assembly in Caracas, the economist and deputy of the PSUV in the federal legislative emicycle, Jesús Farías, clarified that this tax will not be applied to those who receive remittances from their relatives who are in the abroad, nor will it apply to small businesses, popular markets, or to transactions made through the use of Cards in foreign currency, since in the latter case, the transaction is accounted for as if it were in bolivars.
He himself did not say anything about the use of digital wallets for transactions in cryptocurrencies or other cryptoactives. We already know that the government does not have the technical mechanisms to intervene wallets and/or exchanges such as Binance, Trust Wallet or other forms that we already know many Venezuelans are using to protect and trade our assets, therefore its use is still recommended before using money Fiat or transactions in bolivars.
We will see what is left of this reculeo policy, which is not only aimed at denying that said tax will be applied hitting citizens in general, but there is even talk of reviewing the high taxes that are applied with the entry into force of the new reform to the Law of Registries and Notaries, which sincerely hit the users of these legal services and encourage greater informality in this area.
@JimmyJQB
