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Publication of VAT Exoneration Decree for services provision to Agencies or Entities of the National Public Power related to the Designed Depth Reinstatement of the Navigation Channel of the Orinoco River Project
Decree N8,741 of December 27, 2011 was published in Official Gazette N39,831 of December 29, 2011, establishing an exoneration to Value Added Tax (VAT) payments, in the terms and conditions therein set forth, for the provision of services engaged by Entities of the National Public Power, to be exclusively used in the execution of the Designed Depth Reinstatement of the Navigation Channel of the Orinoco River Project, issued by the President of the Republic. The exoneration set forth in the aforementioned Decree shall be applicable when the Ministry of Popular Power for Oil and Mining, after request from the respective agency or entity of the National Public Power, issues a favorable pronouncement on the amounts and the strictly necessary nature of the service provided to the Project. Additionally, in relation to the decisions or pronouncements on requests made during the effective period of Decree N6,984 of October 20, 2009, published in Official Gazette of the Republic N39,289 of October 21, 2009, regarding which no pronouncement has been generated as to the total or partial applicability of the exoneration decree, the Decree sets out that these shall be ruled by the provisions herein set forth. However, favorable pronouncements issued by the Ministry of Popular Power for Transportation and Communications, in pursuance with Decree N6,984, shall be fully applicable. The maximum term of the exoneration established in this Decree shall be two (2) years from its effective date. This Decree became effective upon its publication in Official Gazette of the Bolivarian Republic of Venezuela.
"La informacin contenida en el presente boletn, es de carcter estrictamente informativo. Por lo tanto para la toma de decisiones particulares sobre los temas que se comentan, se deber contar con el auxilio del asesor especialista en el tema pertinente". "The contents of this bulletin is strictly informative. Therefore, for specific decision making purposes on the subjects discussed therein, you should ask for the assistance of the advisor specialized on the pertinent subject.
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