What´s new in the government
October 2007

 

I. Legal news in commercial matter

a) a) Commission of Foreign Exchange Administration (CADIVI)

Subject
Ruling
Source
Observations


Intent to Export Form


Extension of the exemption for micro—exporters from submitting Intent to Export Form
http://www.cadivi.gov.ve

- The exemption for small exporters from submitting the intent to export form at customs, as long as the individual amounts do not exceed $5 thousand, is extended to December 31, 2007.

b) Ministry of People’s Power for Agriculture and Lands

Subject
Ruling
Source
Observations
Transit of Corn of National Production Resolution through which the Transit of Corn of National Production for Exportation or Extraction to Foreign Countries is temporarily prohibited.
 Official Gazette N° 38,773 (09-20-2007)
The Transit of Corn of National Production for exportation or extraction to foreign countries is prohibited until December 31, 2007. This prohibition could be extended by Resolution of the Ministry of People’s Power for Agriculture and Lands.

c) Ministry of People’s Power for Labor and Social Security

Subject
Ruling
Source
Observations
Extra hours
Resolution N° 5,495
 Official Gazette N° 38,756 (10-11-2007)

- The resolution prohibits exceeding the established limits of overtime or extraordinary hours provided in Article 207 of the Organic Labor Law, namely: more than 10 extraordinary hours per week or 100 per year.


d) Ministries of People’s Power for Light Industries and Commerce, for Agriculture and Lands and for Food

Subject
Ruling
Source
Observations
Fixing the price of soy
Resolution through which the Price of Soy of National Production is fixed.
 Official Gazette N° 38,784 (10-05-2007)

- The price of soy of national production, placed by the producer in the usual locations, was fixed at Bs. 20,000 per kilogram (1,020.00 Bs./Kg), which will be effective during the harvests of the 2007 winter and northern summer 2007-2008 cycles of such item.
Fixing the price of soy
Resolution through which the Price of Sunflower of National Production is fixed.
 Official Gazette N° 38,784 (10-05-2007)

- The price of sunflower of national production, placed by the primary producer in the usual locations, was fixed at one thousand three hundred bolivars per kilogram (1,300.00 Bs./Kg), which will be effective for the harvests of northern 2007-2008 summer cycle of such item.

 

e) National Integrated Tax and Customs Administration Service (SENIAT)

Subject
Ruling
Source
Observations
Taxes
Decree with Rank, Value and Force of Law of the Reform of the Tax Law on Alcohol and Alcoholic Species
Decree N° 5,618
Extraordinary Official Gazette N° 5,852
(10-05-2007)
- The taxes to be levied on ethylic alcohol and alcoholic species of national production or imported, for the domestic consumption, are established.

- This Decree came into force on October 15, 2007.
Taxes
Decree with Rank, Value and Force of Law of Reform of the Tax Law on Cigarettes and Tobacco Manufacturers
Decree 5,619
Extraordinary Official Gazette N° 5,852
(10-05-2007)

- The taxes to be levied on imported of nationally produced cigarettes, tobacco and shredded pipe tobacco for domestic consumption are established.

- The present Decree with Rank, Value and Force of Law will be effective as of 10-15-2007.

- Decree N° 1,136 (07-16-1981), published on the Official Gazette N° 32,271 of 07-16-1981 is derogated as of the date of entry into force of this Law.
Taxes
Decree with Rank, Value and Force of Law on Financial Transaction Tax on Legal Entities and Unincorporated Associations
Decree No. 5,620
Extraordinary Official Gazette N° 5,852
(10-05-2007)

- A tax on the financial transactions of legal entities and unincorporated associations is created under the provisions established in such Law.

- This Decree will become effective on November 1, 2007

 

II. ADMINISTRATIVE PROCEEDING
Request of Import Licenses by importers of raw material for oleaginous, diary, sugar, and cereal products and sub-products.

  • Legal Competent Authority
    Ministry of People’s Power for Food

  • Requirements

    - To fill out the form of Registration and Request of Import License. The form to request Certificates can be found at: http://www.minal.gob.ve/view/docs/SOLLIC.pdf

    - Fiscal Stamp equivalent to fifteen (15) tax units (Article 10, paragraph 4 of the Law on Fiscal Stamp in accordance with Article 229 of the Organic Tax Code). This stamp will be demanded, when picking up each License.

    - A copy of the Sanitary Register of the Product or Inclusion of the Importer, issued by the Ministry of Health, if necessary.

    - Written proof or Authorization, in letterhead paper of the company, duly sealed and signed in original by the legal representative, with the name of the person authorized to pick up the License.

    - An invoice of the latest import with information about the volume and cost of the merchandise and supporting documents of Nationalization.

    - Sworn statement of National purchases. (Supporting documents)

    - Description of the products to be produced with the raw material to be imported according to form number (01) duly notarized. (According to the request of license).

    - Destination of the raw material acquired during the latest granted license, declared volume and foreign currency authorized to make the import, form two (2), duly notarized.

    - Fiscal stamp of Bs. 500 for each form of request of Import License.

    - Labor solvency issued by the Ministry of Labor to the Ministry of Food.

    - Stocks of raw material and finished products.

  • Procedure
    These documents must be submitted in folders (original and copies) at the window of the Ministry of People’s Power for Food during the established service hours.

  • Address
    Av. Andrés Bello, Edificio "Las Fundaciones", Planta Baja Local 16. Libertador Municipality. Distrito Capital. Caracas, Venezuela.

  • Phone Number
    +58 212 578 19 13

  • Service Hours
    Tuesday through Thursday
    Morning: 8.30 a.m. - 12:00 m
    Afternoon: 2:00 p.m. - 5:00 p.m.

Source: Ministry of People’s Power for Food (2007). Available at: http://www.minal.gob.ve/




III. INFOCENTER SPECIAL: MONETARY REDENOMINATION

  • Central Bank of Venezuela’s Resolution 07-09-01 was published in the Official Gazette number 38,789 of October 15th, 2007, which provides that the denominations in national currency contained in every instrument, agreement or legal business held until December 31st, 2007, which maintain their legal effects after this date, will automatically be understood as re-denominated in the new currency, as of January 1st, 2008.

    Source: Central Bank of Venezuela- BCV (2007). Available: http://www.bcv.org.ve




    Karen Bocanegra
    Trade Coordinator - Infocenter