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Venezuela Considers Tax on U.S. Dollar Sales to Boost State Coffers

Venezuela Considers Tax On U.S. Dollar Sales To Boost State Coffers


  • Government wants cut of dollars circulating in economy
  • Venezuela’s current value-added tax in bolivars stands at 16%

Venezuela is considering to impose a tax on the growing number of sales being conducted in U.S. dollars to boost government revenue at a time when foreign reserves are at a 30-year low.

The country’s Constituent Assembly, which is loyal to President Nicolas Maduro, is discussing a value-added tax reform proposal in the coming weeks as part of economic measures the government is planning in 2020, said Gerson Hernandez, an assembly member who’s part of the economy committee.

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