UN'OPPORTUNITÀ CONCRETA DI RIMBORSO PER LE IMPRESE ESPORTATRICI ITALIANE 

🔴 WEBINAR Live su Zoom

Evento online — link di collegamento inviato dopo la registrazione

 Perché partecipare

A seguito della sentenza della Corte Suprema degli Stati Uniti, che ha dichiarato illegittimi i dazi aggiuntivi introdotti dall'Amministrazione USA ai sensi dell'International Emergency Economic Powers Act (IEEPA), il Dipartimento del Tesoro americano ha avviato un imponente programma di rimborso delle somme indebitamente riscosse. 

Ad oggi il governo statunitense ha già restituito oltre 100 miliardi di dollari alle aziende esportatrici coinvolte, a fronte di un potenziale complessivo stimato in oltre 166 miliardi di dollari. Si apre così una finestra strategica e temporalmente limitata anche per le imprese italiane che negli ultimi dodici mesi hanno sostenuto l'impatto di questi dazi. 

Il processo di recupero avviato da U.S. Customs and Border Protection (CBP) è tuttavia soggetto a fasi rigide e scadenze amministrative e legali molto stringenti: dalla verifica dello stato delle pratiche doganali (liquidated vs unliquidated), alla puntuale mappatura dei termini per Post Summary Corrections e protesti formali, fino ai rigorosi requisiti documentali — ad oggi circa il 40% delle istanze presentate a livello globale è stato respinto per errori formali o carenze probatorie sulla tracciabilità dell'Importer of Record.

GLI SPEAKER

• Francesco Sciaudone Global Managing Partner, GA-Alliance 
• Eduardo Savarese Of Counsel, GA-Alliance 
• Marcelo Lopes Partner, GA-Alliance
• Pedro Drummond Partner, GA-Alliance
• Vicky Phillips Partner, GA-Alliance

Il contributo di GA-Alliance

Consapevole della complessità tecnica dell'operazione, GA-Alliance ha costituito una task force dedicata, in collaborazione con il partner internazionale Pedro Drummond e i suoi team basati a Miami, Orlando e Boston, per assistere le imprese italiane nell'intero percorso di recupero: dall'audit e quantificazione degli importi recuperabili, alla preparazione documentale, fino alla presentazione delle istanze presso le autorità doganali statunitensi.

Durante il webinar, i nostri esperti internazionali illustreranno le implicazioni strategiche e i requisiti procedurali di questa iniziativa, fornendo indicazioni operative concrete per verificare l'eleggibilità delle vostre operazioni commerciali.

WEBINAR ONLINE

GA‑Alliance Shares Key Takeaways on the EU–Mercosur Agreement
3 February 2026

GA‑Alliance – Global Legal and Tax Advisors presents the latest developments on the EU–Mercosur Agreement following its international webinar “The EU–Mercosur Agreement and the Future of Transatlantic Business”, held on 22 January 2026. The discussion brought together experts from Europe and Latin America to assess the agreement’s practical impact on companies, trade flows, and regulatory frameworks across both regions.

Signed on 17 January 2026, the EU–Mercosur Partnership Agreement introduces wide‑ranging commitments, from significant tariff reductions to strengthened sustainability, SPS and intellectual‑property provisions, as outlined by GA Alliance. Speakers highlighted the geopolitical relevance of the agreement, its potential to diversify EU supply chains, and the opportunities it creates in sectors such as energy, agribusiness, industrial production, and services.

GA‑Alliance continues to monitor the institutional process, including the pending review before the European Court of Justice, and provides integrated guidance to businesses navigating the evolving regulatory landscape.

A detailed briefing with country‑specific insights and legal analysis is available here: click to access the full document.

EU-MERCOSUR AGREEMENT: The future of transatlantic business

Table of Content

• Executive Summary
• State of the Agreement and Institutional Process
• Strategic relevance of the agreement for the EU
• Legal, trade and sustainability aspects
• Country perspective and sectorial implications
• Conclusions

Executive Summary

This document provides an update on the status of the EU–Mercosur Association Agreement following the seminar organized by GA-Alliance – Global Legal and Tax Advisors together with its partners in South America, held during the webinar on 22 January 2026 entitled “The EU–Mercosur Agreement and the Future of Transatlantic Business.”

The webinar event brought together GA Alliance professionals from Europe and Latin America, confirming the Alliance’s role as an international platform capable of connecting the two continents and offering an integrated analysis of the main developments in international trade, regulation, and tax strategy. The panel — made up of experts from Italy, Argentina, Brazil, Paraguay, Uruguay, Venezuela, and Colombia — discussed the practical significance of the agreement for European and Latin American businesses, examining commercial, regulatory, and operational implications.

The webinar also highlighted that the agreement, politically concluded after more than 25 years of negotiations, represents far more than a tariff deal: it introduces new sustainability standards, rules on intellectual property, procurement opportunities, and a regulatory framework that will reshape the economic axis between the EU and Mercosur. The gradual elimination of over 90% of customs duties could generate significant benefits for European and Italian exports, estimated at more than €14 billion.

GA Alliance, leveraging its global presence in over 80 countries and a multidisciplinary team of more than 2,600 professionals, continues to monitor developments in the agreement, offering an integrated perspective on the impacts for economic operators and investors, and translating a complex debate into concrete guidance for international stakeholders.

State of the Agreement and Institutional Process

The EU-Mercosur negotiation process began in 2000, following earlier exploratory dialogues and cooperation frameworks dating back to the 1990s. After years of intermittent negotiations, the parties reached a political agreement on 6 December 2024 on a comprehensive Partnership Agreement (EU-Mercosur Partnership Agreement, or “EMPA”), covering trade, political dialogue, cooperation and sustainable development.

Subsequently, on 3 September 2025, the European Commission adopted proposals for the Council to authorise the signature and conclusion of two parallel legal instruments: the EMPA and an Interim Trade Agreement (“iTA”), designed to allow trade commitments to be applied ahead of the full EMPA’s entry into force.

On 9 January 2026, the Council of the European Union formally adopted the decisions authorising the signature of both the EMPA and the iTA.

The agreements were signed on 17 January 2026 by representatives of the EU and the Mercosur countries (Argentina, Brazil, Paraguay, and Uruguay) in Asunción, Paraguay.

At this stage, the EMPA and the iTA are concluded instruments. However, their entry into force depends on further procedures: the EMPA must be ratified by all EU Member States and Mercosur legislatures, while the iTA will enter into force once the European Parliament gives its consent and the Council concludes it.

Currently, EU ratification of the agreement is suspended pending review by the European Court of Justice following a referral by the European Parliament in January 2026 over questions related to legal competence, the precautionary principle, and the structure of the agreement, a process that may take up to approximately 18-24 months.

Strategic relevance of the agreement for the EU

From the perspective emerging during the seminar, the EU-Mercosur Agreement was presented as a legal, political and institutional instrument with clear geopolitical relevance, capable of reshaping long-term economic leadership through rule-based cooperation.

Beyond trade liberalisation, the agreement was framed as a tool to reinforce the EU’s strategic presence in South America at a time of mounting global fragmentation and intensified competition from China. In an increasingly unstable geopolitical environment, the EU must diversify not only its export markets but also its sources of imports, while establishing solid contractual ties with reliable partners.

The Mercosur region comprises approximately 300 million inhabitants and represents a major trading area. The EU is Mercosur’s second-largest trading partner, while Mercosur is the EU’s tenth-largest trading partner. Historically, the EU remains the largest investor in the region, with European companies operating in Brazil and Argentina for over a century. In 2024, the EU accounted for 16.8% of Mercosur’s total trade. EU exports to Mercosur amounted to €53.3 billion, while Mercosur exports to the EU totalled €57 billion.

Mercosur’s main exports to the EU consisted primarily of agricultural products (42.7%), mineral products (30.5%), and pulp and paper (6.8%), whereas EU exports were dominated by machinery (28.1%), chemicals and pharmaceuticals (25%), and transport equipment (12.1%). In the services sector, in 2023 the EU exported €28.5 billion to Mercosur, while Mercosur exported €13.1 billion to the EU.

The agreement is structured around four main pillars (trade, investment, sustainability and cooperation) and is expected to generate estimated tariff savings of around USD 4 billion per year. The schedule of commitments reflects an asymmetric and gradual approach, with Mercosur granted up to 15 years to dismantle tariffs on around 90% of imports, while the EU would liberalise approximately 93% of imports from Mercosur within 10 years.

Over the long term, the agreement is expected to support industrial production, facilitate access to capital goods, enable accumulation of origin between the two blocs and foster intra-bloc trade, with positive GDP effects projected towards 2040.

Legal, trade and sustainability aspects

Food safety and sanitary and phytosanitary (“SPS”) controls are integrated into the agreement’s operational framework.

The EU already imports beef and other products from Mercosur countries, and the agreement maintains existing EU sanitary legislation while intensifying border checks. Only authorised slaughterhouses may export to the EU, subject to 100% documentary controls, supported by a rapid alert system among Member States and bilateral safeguard clauses to prevent sudden import surges or price collapses. The EU has also doubled available crisis funds for the agricultural sector.

Legal certainty is reinforced through references to the precautionary principle and WTO-aligned SPS measures, while the rebalancing mechanism (modeled on GATT framework) provides a structured dispute resolution pathway, allowing a party to request compensation if measures nullify expected benefits. These mechanisms underpin both predictability and enforceability, contributing to the robustness of the agreement.

Sustainability commitments are central, including legally binding obligations to halt deforestation and align with the Paris Agreement, Sustainable Development Goals, and Glasgow Leaders’ Declaration on Forests. The agreement also provides a platform for dialogue on the EU Deforestation Regulation and wider environmental initiatives.

Country perspective and sectorial implications

While the EU-Mercosur agreement sets a common framework, its economic and regulatory impact varies significantly across the member countries, reflecting differences in population size, industrial structure, and trade policies. Understanding these national perspectives is essential to grasp the practical implications of the agreement and the opportunities it creates for trade, investment, and sustainability initiatives.

• Paraguay benefits from extensive differentiated treatment designed to bolster its domestic processing and service sectors. The agreement grants an exclusive 10,000-tonne quota for organic sugar at a zero-percent tariff, alongside preferential 5% duties for critical auto part designations. To ensure stability, the framework provides extended timelines for trade defense and sanitary measures, including a two-year extension of the Generalised Scheme of Preferences (“SGP”) conditions for key exports like corn and yerba mate. By preserving national policy space for public procurement and amplifying service exclusions, the agreement facilitates integrated value chains in biofuels, honey, and oilseeds while fostering a robust market for sustainability certification services.

Argentina is positioned as a relevant dual energy partner for Europe, offering immediate and long-term solutions to the continent’s energy needs. In the short term, the country is set to supply natural gas and LNG from the Vaca Muerta formation under stable, long-term contractual arrangements. Looking ahead, the focus shifts to the renewable energy sector and green hydrogen, underpinned by the extraction of critical minerals such as lithium and copper. These initiatives are closely aligned with Europe’s decarbonisation agenda and are supported by the “Global Gateway” initiative. This framework facilitates technology transfer and attracts European investment into projects that strictly adhere to Environmental, Social, and Governance (“ESG”) standards.

Brazil, with over 210 million inhabitants, represents most of the Mercosur’s population and a leading global agricultural exporter. The agreement is broadly compatible with existing practices among large companies already aligned with EU standards, though smaller firms may need to adjust. Key improvements include the simplification and digitalisation of customs procedures, the mutual recognition of certifications, and a potential reduction of the “custo Brasil.” by mitigating the structural and bureaucratic burdens that historically inflate the cost of operations in the country. Additionally, the agreement fosters enhanced competitiveness through interactions with the current VAT reform. The analysis also covered consumer prices and investment decisions across sectors such as machinery, vehicles, fertilisers, and food and beverages.

Conclusions

GA-Alliance’s seminar showcased the value of practitioner-led, cross-regional analysis in breaking down the legal and economic complexities of the EU-Mercosur agreement. By providing a bridge between policy and practice, the discussion translated high-level trade objectives into concrete opportunities for the private and public sectors.

• The EU-Mercosur agreement constitutes a strategically significant instrument to reinforce the EU’s global competitiveness, diversify trade and supply chains, and secure access to critical resources and energy supplies.
• The agreement establishes robust legal, trade and sustainability mechanisms, including precautionary and SPS measures, rebalancing provisions, and enforceable climate and deforestation commitments.
• Differentiated treatment for specific Mercosur countries, combined with sectoral and investment provisions, supports agribusiness, energy transition, industrial production, and integrated value chains across the region.
• The agreement offers measurable long-term economic benefits, including tariff reductions, market access, investment opportunities, and enhanced cooperation on environmental and sustainability objectives.

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3 February 2026

Bruxelles

Cross Border Investment in Latin America

Event 22 Gen 2026 |16:00 – 18:00 | Webinar by GA-Alliance

Online Webinar Event

The finalized EU-Mercosur agreement is much more than a trade deal; it is a shift in the global regulatory landscape. For European companies, it represents the removal of billions in tariffs; for the legal and fiscal world, it introduces a complex web of new sustainability standards, intellectual property rules, and procurement opportunities.

Join us for this online workshop taking place on January 22, 2026, at 4.00pm (CET/GMT+1). We won’t just tell you what the agreement says – we will tell you what it means for your bottom line and how to position your business to thrive in this new economic corridor.

LINK AL WEBINAR

EVENT INVITATION : The EU-Mercosur agreement and the future of transatlantic business

About GA-Alliance

GA-Alliance – an international law and tax firm with a global network spanning 80 countries and a team of over 2,600 professionals – is uniquely positioned to bridge these two worlds. Our multidisciplinary expertise allows us to navigate the intersection of international trade law and cross-border tax strategy with unparalleled precision.

Find us in the LATAM Area:

Venezuela

Argentina

Bolivia

Brasile

Cile

Colombia

Costa Rica

Ecuador

El Salvador

Honduras

Messico

Panama

Paraguay

Perù

Repubblica Dominicana

Uruguay

BANKING AND FINANCE

The Venezuelan Central Bank (VCB) established the interest rates applicable to the obligations derived from employment relationships (59.36% and 47.68% - March 2025) and to operations with credit cards (60.00% annual maximum lending rate and 17.00% annual minimum lending rate April 2025). (Official Gazette of 04/14/2025. Official Notice. Entry into force: Upon publication in the Official Gazette).

The Ministries of the Popular Power for National Trade and for Electric Energy issued the following resolutions:

1. Joint Resolution No. 006/2025 and 013/2025 that establishes the technical regulations on energy efficiency labeling of refrigerating and freezing appliances for household use.
2. Joint Resolution No. 007/2025 and 014/2025 that establishes the technical regulations on energy efficiency labeling of air conditioners.
   (Official Gazette of 04/02/2025. Entry into force: As from six (6) months following its publication in the Official Gazette).

TAX

The Ministry of the Popular Power for Economy and Finance resolved to delete Complementary Note 3 of Chapter 87 of article 37 of Decree No. 4.944, dated 04/24/2024, published in Official Gazette No. 6.804 Extraordinary of 04/25/2024, through which the Schedule of Customs Duties was issued. Therefore, in the case of the importation of motor vehicles and chassis with engine and of motor vehicles with no engine, the requirement of Conformity of the Mobile Source Emission Certificate and of Mobile Source Emission Certificate, respectively, was removed. (Official Gazette of 04/14/2025. Resolution No. 010/2025. Entry into force: Upon publication in the Official Gazette).

MISCELLANEOUS

The Ministry of the Popular Power for National Trade issued Resolution No. 019/2025 that establishes the technical regulations on raw material for footwear. (Official Gazette of 04/04/2025. Entry into force: As from six (6) months following its publication in the Official Gazette).

The Ministries of the Popular Power for Productive Agriculture and Lands, for Defense, for Hydrocarbons, for Internal Affairs, Justice and Peace, and for Transportation issued a joint resolution that establishes the control mechanisms for carriers and end users of mineral or chemical fertilizers in the national territory. (Official Gazette of 04/23/2025. Joint Resolution DM/No. 031/2025, DM/No. 059115/2025, DM/No. 003-2025/2025, DM/No. 018/2025, DM/No. 0020/2025. Effectiveness: From 04/01/2025 up to and including 03/31/2026).

The Ministry of the Popular Power for Transportation established the minimum and maximum rates for urban transportation service. Likewise, it established the maximum official rate for suburban routes nationwide to be charged by the providers of the public service of ground passenger transportation. The Official Request published in Official Gazette of 11/22/2024 was revoked. (Official Gazette of 04/24/2025. Official Request and Resolution No. 021. Entry into force: Upon publication in the Official Gazette).

TAX

AGREEMENT BETWEEN ECUADOR AND THE UNITED KINGDOM FOR THE ELIMINATION OF DOUBLE TAXATION AND THE PREVENTION OF TAX EVASION

The government of Ecuador and the United Kingdom of Great Britain and Northern Ireland have signed an agreement whose primary objective is to eliminate double taxation on income and capital gains affecting individuals and legal entities operating in both countries. Additionally, it aims to prevent tax evasion and avoidance through information exchange and the implementation of anti-abuse regulations. Finally, the agreement seeks to promote investment and bilateral trade by ensuring a predictable and fair tax treatment.

Scope and Application of the Agreement

The agreement covers individuals and legal entities residing in Ecuador and the United Kingdom, including territories under the fiscal control of these states. Income and capital gains taxes are considered to include all taxes levied on total income, including those derived from the disposal of movable and immovable property. The taxes covered by the agreement are:

• Ecuador: Income tax
• United Kingdom: Income tax, corporate tax, and capital gains tax

Methods for Eliminating Double Taxation

To prevent double taxation, the following measures are established:

• In Ecuador, the tax credit method will be adopted, allowing taxes paid in the United Kingdom to be deducted from Ecuadorian tax liabilities.

• In the United Kingdom, a tax credit mechanism will be implemented, enabling taxes paid in one country to be deducted in the other. Additionally, an exemption method will be applied in certain cases, depending on the type and origin of the income. This method will apply to dividends from Ecuador and profits generated by permanent establishments in the country.

Methods for Eliminating Double Taxation

To prevent double taxation, the following measures are established:

• In Ecuador, the tax credit method will be adopted, allowing taxes paid in the United Kingdom to be deducted from Ecuadorian tax liabilities.

• In the United Kingdom, a tax credit mechanism will be implemented, enabling taxes paid in one country to be deducted in the other. Additionally, an exemption method will be applied in certain cases, depending on the type and origin of the income. This method will apply to dividends from Ecuador and profits generated by permanent establishments in the country.

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NEW GUIDELINES FROM ECUADOR'S TAX AUTHORITY FOR THE APPLICATION OF THE FOREIGN CURRENCY EXIT TAX STARTING IN 2025

The Ecuadorian Internal Revenue Service (IRS) has issued new rules regarding the Foreign Currency Exit Tax (FCET), which are taking effect this year. Here are the key points:

• Elimination of tax credits: As of January 1, 2025, FCET paid in the past can no longer be used to reduce Income Tax.

• Options for FCET paid until 2024: Those who paid FCET until the end of 2024 may use it to reduce Income Tax, deduct it as an expense, or request a refund, according to previous regulations.

• Requirements for reduced rates: Taxpayers wishing to apply reduced FCET rates (2.5% or 5%) must complete a form and submit it to the financial institution or withholding agent.

• Obligations for withholding agents: Those responsible for withholding FCET must issue electronic receipts and ensure compliance with the regulations.

• IRS system updates: The IRS will update its systems to ensure the correct FCET rates (0%, 2.5%, 5%) are applied to money transfers abroad.

These measures are available this year and will impact both businesses and financial institutions.

ECONOMICS

Ecuador and Canada Conclude Negotiations for a Trade Agreement

The Free Trade Agreement between Canada and Ecuador strengthens trade relations between both countries following a negotiation process that began in April 2024. The conclusion of the negotiations resulted in a comprehensive agreement covering goods, services, and investment treatment, with provisions in key areas such as the environment, labor rights, Indigenous peoples, dispute resolution, agriculture, intellectual property, financial services, gender equality, and support for small and medium-sized enterprises. Below are the main aspects of this agreement:

Investment

The Investment chapter ensures a fair and predictable environment, including non-discrimination rules, protection against expropriation without fair compensation, and minimum standards of treatment. The Parties retain the right to regulate strategic sectors such as health, security, the environment, Indigenous rights, and cultural diversity. Additionally, it establishes rules for investor-State dispute settlement (ISDS), with strengthened commitments to transparency and fair access to procedures.

Dispute Resolution

The treaty includes a binding dispute settlement mechanism, prioritizing consultations and alternative solutions before arbitration. It ensures clear rules for panel selection, report implementation, and public access to proceedings for transparency.

Cross-Border Trade in Services

The agreement ensures market access, non-discriminatory treatment, and legal certainty for service providers. It includes an Annex on Professional Services to facilitate future Mutual Recognition Agreements and adopts a negative-list approach for non-conforming measures, ensuring regulatory predictability and transparency.

Competition Policy

The agreement fosters a fair and predictable business environment, ensuring due process and transparency in law enforcement. It encourages cooperation between competition authorities and protects confidential information. While not subject to dispute resolution, it allows for bilateral consultations on competition concerns.

Industrial Goods

The agreement eliminates tariffs on all Canadian industrial exports, with 89% of tariff lines becoming duty-free immediately and full liberalization within ten years. Key exports include metals, chemicals, machinery, textiles, fertilizers, and natural gas, averaging $316.7 million annually (2019–2023). Tariff removal on products like helicopters, drilling machinery, chemicals, cosmetics, and IT technology enhances Canada’s competitiveness in Ecuador.

Fish and Seafood Products

The agreement eliminates all tariffs on Canadian fish and seafood exports, with 95% becoming duty-free immediately and the remaining 4.9% phased out within three years. Between 2019 and 2023, Canada’s exports to Ecuador in this sector averaged $68,000 annually, while imports from Ecuador to Canada averaged $45.1 million, highlighting growth potential for Canadian exporters.

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PRIVATE INVESTMENT IN ECUADOR REACHED $1.304 BILLION IN 2024

According to the Ministry of Production, Foreign Trade, Investments, and Fisheries, private investment in Ecuador reached $1.304 billion in 2024 through 39 investment contracts across various productive sectors.

At the beginning of 2025, the Strategic Committee for Investment Promotion and Attraction (CEPAI) confirmed this amount, including contract approvals, amendments, and transitions to the new Free Zone regime.

In comparison, investment contracts in 2023 amounted to $1.161 billion. The main sectors for investment in 2024 included commerce, renewable energy, mining, real estate, and aquaculture. Additionally, amendments to investment contracts in the last quarter of 2024 increased investment by $93.5 million.

CEPAI also approved the transition of two Special Economic Development Zones (ZEDE) in Santa Elena and Guayas into Ecuador's first Free Zones, under the Economic Efficiency and Employment Generation Law. These projects involve over $2 million in investment and will create 69 direct jobs over 30 years.

On October 17, 2024, the Ministry of Production issued a ministerial agreement outlining the transition process for ZEDEs and free zones under the new legal framework.

Foreign Direct Investment (FDI)

Ecuador recorded $120 million in FDI in the first half of 2024, a 12.2% decrease compared to the same period in 2023. The main sectors for FDI were mining, transportation, and manufacturing, with $92 million in positive flows. The top investing countries were the U.S., Switzerland, and Peru, contributing $78 million.

Meanwhile, 100% of approved investment contracts in early 2024 focused on agriculture, manufacturing, and real estate/construction.

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ECUADOR STARTS EXPORTING CANNED TUNA TO CHINA

Ecuador began exporting canned tuna to China, following the implementation of a free trade agreement that removed the 5% tariff on the product. The deal, which came into effect last year, has also enabled other Ecuadorian products like shrimp, coffee, cacao, and bananas to enter the Chinese market without tariffs. Bilateral trade between Ecuador and China has grown by an average of 23% annually over the past five years, with China overtaking the United States as Ecuador's top non-oil trading partner in 2022.

However, Ecuador's exports to China fell nearly 12% by November 2024, largely due to a drop in shrimp prices (with China being Ecuador's main shrimp buyer) and an electricity crisis that led to daily blackouts and halted industrial mining activities. As of November 2024, Ecuador's exports totaled $2.97 billion, a 17.3% decrease from the previous year. Copper exports were also down by 7.7%.

Energy and Petroleum

The Presidency of the Republic modified the name of the Ministry of the Popular Power for Petroleum, which is now called Ministry of the Popular Power for Hydrocarbons. (Official Gazette of 12/17/2024. Decree No. 5.061. Entry into force: Upon publication in the Official Gazette).

Tax

The National Integrated Service of Customs and Tax Administration (Servicio Nacional Integrado de Administración Aduanera y Tributaria - SENIAT) established the rate applicable to the calculation of late payment interest accrued during August, September, and October 2024. It was established that the weighted average interest rates for loans of the six (6) principal commercial and universal banks of the country with the highest volume of deposits, excluding portfolios with prime rates, set by the Venezuelan Central Bank (VCB) for August, September, and October 2024 are: 59.26%, 59.23% and 59.30%, respectively, which rates are to be increased 1.2 times for the calculation of late payment interest accrued during the aforesaid months. (Official Gazette of 12/06/2024 and 12/19/2024. Administrative Rulings Nos. SNAT/2024/000108, SNAT/2020/000109, and SNAT/2020/000123).

A Presidential Decree extended until 06/09/2025 the validity of Decree No. 4.525 (Decree of Optimization and Revitalization of Exportation Processes) published in Official Gazette of 06/09/2021. Therefore, the exemptions from the exportation legal regimes indicated in said Decree No. 4.525 continue to be in force. (Official Gazette of 12/16/2024. Decree No. 5.058. Entry into force: As from 12/09/2024). The SENIAT established the schedule of Special Taxpayers and Withholding Agents for the obligations to be performed in year 2025. (Official Gazette of 12/18/2024. Administrative Ruling No. SNAT/2024/000118. Entry into force: Upon publication in the Official Gazette). The SENIAT established the schedule of Taxpayers not Categorized as Special Taxpayers for activities of games of chance to be performed in year 2025. (Official Gazette of 12/18/2024. Administrative Ruling No. SNAT/2024/000119. Entry into force: As from the date of publication in the Official Gazette).

The SENIAT issued an Administrative Ruling that regulates the use of digital media for the issue of invoices and other fiscal documents. For purposes of said Ruling, other documents refer to debit notes, credit notes, delivery orders or waybills and withholding certificates. The taxpayers subject to the obligation to use digital media for the issue of invoices and other documents must perform said obligation as from the first day of the third calendar month after the entry into force of the aforesaid Administrative Ruling. The provisions of said Administrative Ruling will not be applicable to the invoicing by telephony services intermediaries as established in Administrative Ruling No. 0474, published in Official Gazette of 10/01/2004. Administrative Ruling No. SNAT/2014/0032, published in Official Gazette of 09/02/2014, which rules the use of different media for the issue of invoices and other documents by suppliers of mass services, was repealed. The authorizations granted under the validity of said Administrative Ruling No. SNAT/2014/0032 continue to be in effect. (Official Gazette of 12/19/2024. Administrative Ruling No. SNAT/2024/000102. Entry into force: Upon publication in the Official Gazette).

The SENIAT issued an Administrative Ruling that regulates the conditions and requirements to be met by the providers of information technology systems used for the issuance of invoices and other fiscal documents, in order to be homologated and authorized by the National Integrated Service of Customs and Tax Administration (Servicio Nacional Integrado de Administración Aduanera y Tributaria - SENIAT). (Official Gazette of 12/19/2024. Administrative Ruling No. SNAT/2024/000121. Entry into force: Upon publication in the Official Gazette).

The SENIAT established the schedule for declaration and payment of the special contribution for protection of social security pensions in the face of the imperialist blockade to be performed in year 2025. (Official Gazette of 12/19/2024. Administrative Ruling No. SNAT/2024/000120. Entry into force: As from the date of publication in the Official Gazette).

Presidential Decree No. 5.071 established as follows: (i) an exemption of ninety percent (90%) from import duties and from value added tax is established for the final importation of new or used corporeal personal property, made by entities of the National Public Administration and by natural or legal persons with their own resources, classified in the schedules of customs duties indicated in Appendix 1 to Decree No. 5071. This benefit operates by reason of law only; (ii) an exemption from import duties and value added tax is established for the final importation of corporeal personal property, made by entities of the National Public Administration and by natural or legal persons with their own resources, classified in the schedules of customs duties indicated in Appendix II to Decree No. 5.071.

This exemption is subject to the Certificate of No National Production or Insufficient National Production (Certificado de No Producción Nacional o Producción Nacional Insuficiente (CON or CPNI); (iii) an exemption from import duties and value added tax is established for the final importation of corporeal personal property, made exclusively by the Ministry of the Popular Power for Mining Ecological Development or the entities assigned to it and that made exclusively by the Corporación Venezolana de Guayana (CVG) or the companies assigned to it, classified in the schedule of customs duties indicated in Appendix III to Decree No. 5.071; (iv) an exemption from import duties and value added tax is established for the final importation of corporeal personal property, made exclusively by the Ministry of the Popular Power for Attention to Waters or the entities assigned to it, classified in the schedule of customs duties indicated in Appendix IV to Decree No. 5.071; (v) an exemption from import duties and value added tax is established for the final importation of corporeal personal property, made exclusively by the Ministry of the Popular Power for Electric Energy or the entities assigned to it, classified in the schedule of customs duties indicated in Appendix V to Decree No. 5.071; (vi) an exemption from import duties and value added tax is established for the final importation of corporeal personal property, made exclusively by Corporación Socialista del Cemento (CSC) and the companies assigned to it, classified in the schedule of customs duties indicated in the Decree; (vii) an exemption from import duties and value added tax is established for the final importation of corporeal personal property made exclusively by Corporación Venezolana de Comercio Exterior (CORPOVEX), classified in the schedule of customs duties indicated in the Decree. The exemption benefit will apply as of the date of recording of the relevant Customs Declaration for importation. The exemption benefits established in the Decree will apply from 01/01/2025 to 03/31/2025. (Official Gazette No. 6.869 Extraordinary of 12/27/2024. Decree No.5.071. Entry into force: Upon publication in the Official Gazette).

Labor

A Presidential Decree established a fire freeze in favor of the workers of the public and private sectors from 01/01/2025 up to and including 12/31/2026. As a result of the foregoing, the workers protected by the fire freeze may not be dismissed or transferred, nor may their employment conditions be worsened, without a justified cause approved by the Labor Inspector. The fire freeze will apply to the workers referred to in article 87 of the Organic Law of Labor and Workers. Workers of direction and casual or temporary workers are exempted from this Decree. (Official Gazette No. 6.868 Extraordinary of 12/27/2024. Decree No. 5.070. Entry into force: As from 01/01/2025).

TELECOMMUNICATIONS The National Telecommunications Commission determined the portions of the radio spectrum that will be submitted to the public offering procedure, in accordance with the provisions of the Organic Telecommunications Law and other applicable provisions. The National Telecommunications Commission may only assign through the public offering procedure the portions of the radio spectrum that the Administrative Ruling indicates in accordance with the attribution established in the National Chart of Frequency Band Attribution. Administrative Ruling No. 011, published in Official Gazette of 04/27/2016, was repealed. (Official Gazette of 12/03/2024. Administrative Ruling No. 113. Entry into force: Upon publication in the Official Gazette. It will have the character of annex to the National Telecommunications Plan).

Miscellaneous

The Ministry of the Popular Power for National Trade declared the following standard as Venezuelan COVENIN Standard of national character: Standard 2257-1:2024 “Installations of ionizing radiations. Part 1: Classification, delimitation, and demarcation of work environments. Requirements. (2nd. Review).” The content of said Standard will be published in the institutional site of the Deconcentrated Service of Standardization, Quality, Metrology, and Technical Regulations (Servicio Desconcentrado de Normalización, Calidad, Metrología y Reglamentos Técnicos - SENCAMER) (www.sencamer.gob.ve). (Official Gazette of 12/16/2024. Resolution No.091/2024. Entry into force: Upon publication in the Official Gazette).