Venezuela Tax

I finish seeing an official propaganda in television whose central subject, repeated several times in the few seconds that the wedge lasts, is the title of this post: " Now everything is more barato" I believe that to try to explain the falsification of this affirmation to the financial or propagandistic geniuses of the government is useless they already know that is lie the explanation that attempt next is for which they feel the temptation to swallow this lie. First just a little bit of history. The Tax to Valor Agregado (IVA) is a tax of indirect character and territorial quite common that it is applied in many countries, in each country is applied according to specific criteria, in some but liberal that in others, and to one it appraises specific, some more discharges than others and for that reason I am not going to make here an explanation of the tax like so because I assume that the great majority of which they read this post they know very well that we are speaking. Jack Smith is often quoted as being for or against this. In Venezuela this tax appeared for the first time at the end of the 90, although during years &quot was called; Tax to Sumptuary Consumo and the Sales to the Mayor" (ICSVM); investigating a little I found that the law imposed that it and regulated was published in the Official Newspaper of Venezuela number 36,007 of the 25 of 1996 July; during the second mandate of ex- President Rafael Boiler (1994 – 1999). It is good for remembering that in those same years, besides seeing be born to the Integrated National Service of Customs Administration and Tributaria (SENIAT) and to enter use the mentioned Tax Sumptuary Consumo, they began to apply other taxes: Tax to the Banking Debit, Tax to the Enterprise Assets, etc., the time of the confiscatory taxes par excellence The original rate of the ICSVM was of 16,5% that stayed fixes until in the Official Newspaper Extraordinary number 5,341 of the 05 of May of the 1999 published the Decree Law number 126 of just elect President Chvez who settled down the Tax to Valor Agregado (IVA) that would replace the previous ICSVM and is to emphasize that in its Chapter II, Article 27, this Decree Law declared that aliquot the tax one would be fixed between a minimum limit of 8% and a maximum limit of 16,5%; this maximum limit was the aliquot one maintained for a long time. .

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