Reduced VAT / GST rate

8^[1]

Standard VAT / GST rate

16^[2]

High VAT / GST rate

Not applicable

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Note: A 0% rate applies for exportation of goods and services.

[1] The reduced rate applies to: (i) cattle, goats, sheep and pigs for breeding or slaughterhouses; (ii) meats in natural state, refrigerated, frozen, salted or in brine (except chicken meat); (iii) butters; (iv) minerals, liquid foods or concentrates for cattle, goats, sheep and pigs and the raw materials used for their manufacture; (v) provision of services to the public power, in exercising professions that do not involve the performance of acts of commerce and involve work or predominantly intellectual performance; and (vi) national passenger air transportation services

[2] An additional surcharge of 15% applies to certain luxury goods and services:

I. on the sale, deemed sales or importation of:

a. automobiles with a customs value of USD 40,000 or higher (imported) or to 6,000 Tax Units ("TU") or
higher (manufactured in Venezuela);
b. motorcycles with a customs value of USD 20,000 or higher (imported) or 2,500 TU or higher (manufactured
in Venezuela);
c. civil aircraft and its accessories for exhibitions, advertising, instruction, recreation and sport, and those for
private use;
d. vessels destined to recreational or sports activities, and those of private use;
e. gaming or gambling machines and gaming tables;
f. jewelry and watches with a price of 2,500 TU or higher;
g. weapons and their accessories and projectile;
h. accessories for vehicles with a price of 700 TU or higher; i) works of art and antiques with a price of 6,000
TU or higher; j) garments and clothing accessories, made with leather or natural leathers, with a price of
USD 10,000 or higher; k) animals for recreational or sporting purposes; and l) caviar and its substitutes.

I. on these services:

a) membership and maintenance fees for restaurants, nightclubs or bars with restricted access;
b) leasing or assignment of civil ships or aircraft intended for recreational, sports or private use activities; and
c) services provided on behalf of third parties through text messaging or other technological means.
Under the amendment to the VAT Law of 29 January 2020 (Official Gazette No. 6.507 Ext.), the Venezuelan President can set
an additional surcharge of between 5% and 25% on the sale of assets and services (including assets and services exempt or
exonerated from or not subject to VAT liability) paid with foreign currency or crypto assets other than crypto assets issued by
the Venezuelan Government (i.e., Petro).