Government and National Assembly discuss fiscal reform
Deputy Ricardo Sanguino said the proposals are being evaluated
One week ago, Venezuelan Minister of Planning and Finance Jorge Giordani urged one more time the National Assembly (AN) "to undertake an in-depth fiscal reform. Those who earn more will have to pay more." Hence, the chair of the AN Finance Committee, Ricardo Sanguino, announced they are already working on such reform.
"We are evaluating the best proposal to conduct the fiscal reform. We are taking a look at the effective tax laws and other laws that may be added so as to obtain funds from those who earn more. This does not mean income is insufficient. We are just making an assessment. We have not made any decision about the right timing," Sanguino elaborated.
The congressman did not list the new taxes. When requested whether they would take into account the taxes proposed in the Socialist Plan 2007-2013, he answered, "We are considering all the alternatives."
The government plan includes a fiscal reform providing for income tax progressivity -Higher income people should pay higher taxes- and a revision on the Value Added Tax (VAT).
It also provides for a new tax on the appreciation of immovable property, public works for default; a tax on luxury goods; a tax on the use of luxury services; and a tax on production-oriented facilities & equipment in use without any justification.
Translated by Jhean Cabrera
A shipment of over 30,000 tons of phosphate arrived at Puerto Cabello port in late July on board the Shi Long Ling, a Chinese-flagged vessel that began its long journey in northern Africa. The cargo boat docked on July 26 after traveling more than 3,200 nautical miles. Undoubtedly, this would just be considered one in many cargo ships crisscrossing the oceans if it were not for the fact that Venezuela has denounced Western Sahara occupation by Morocco and yet purchases the territory's natural resource products from the occupying power.