TaxGlass

VE · Americas · VES

Venezuela

Tax rates

0102030405060World avg (corporate) 22.6%Wealth Tax 0.3%Capital Gains 1%VAT 16%Income · Corporate — 34%

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Notes & in practice

Income Tax

Resident individuals are taxed on a progressive scale (Tariff No. 1) denominated in tax units, topping out at 34% on annual income above 6,000 tax units. Non-resident individuals are instead subject to a flat 34% rate.

VAT

In practice

Filing

There is no VAT registration threshold in Venezuela: the VAT law contains no provision for voluntary registration, since all entities that make taxable supplies must register. Ordinary taxable persons file monthly VAT returns within 15 days after the tax period ends, while taxpayers designated 'special taxable persons' for their high income or business sector file fortnightly instead.

Source: EY Worldwide VAT, GST and Sales Tax Guide 2026 — Venezuela · as of 2026-01-01
Exemptions

Exempt sales include certain foodstuffs, fertilizers, medicine, wheelchairs, books and newspapers, and passenger vehicles and aircraft; exempt services include domestic passenger transport, education, healthcare, and cultural and sporting events. Exports are zero-rated, and exporters may recover VAT paid on their purchases by means of a refund certificate.

Source: PWC Worldwide Tax Summaries — Venezuela (Corporate, Other taxes) · as of 2026-01-12

Capital Gains Tax

Venezuela taxes most individual capital gains as ordinary income, but gains on Venezuelan stock registered with the National Securities and Exchange Commission and sold through a Venezuelan stock exchange are instead subject to a 1% flat withholding tax on the sale price rather than the gain.

In practice

Exemptions

A capital gain from the sale of an individual's main residence is tax exempt in Venezuela if the proceeds are reinvested in another residence within one year before, or two years after, the sale.

Source: PWC Worldwide Tax Summaries — Venezuela (Individual, Income determination) · as of 2026-01-12

Wealth Tax

Impuesto a los Grandes Patrimonios (IGP, "Wealth Tax on Large Fortunes"), created by Constitutional Law published in Official Gazette No. 41,667 (3 July 2019), still in force. Annual rate of 0.25% on net worth (total assets minus liabilities, excluding tax-exempt assets and encumbrances); the law permits the National Executive to raise the rate up to 1.50% by decree, but 0.25% is the statutory/applied rate as of this review. Applies to taxpayers formally designated "special taxpayers" (sujetos pasivos especiales) by the tax administration — natural or legal persons — whose net worth is equal to or greater than 150 million Tax Units (UT) as of the annual valuation date (30 September); this is a taxpayer-designation and net-worth threshold, not a restriction to a narrow asset class. Resident individuals taxed on worldwide net worth; non-residents on Venezuela-situated assets and enforceable rights only. IGP payments are not deductible from income tax.