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New Control and Auditing System for the Venezuelan Income Tax Administration

New Control and Auditing System for the Venezuelan Income Tax Administration

The Integrated National Service of Custom and Tax Administration are required to inform taxpayers of their responsibility to comply with the tax duties in Venezuela. Recently, the Tax Administration carried out tax audit revisions related to VAT compliance. Non compliance is met with a penalty and close of the permanent establishment where business activity is carried out. Taxand Venezuela examines the application of the new control and auditing system and impact on taxpayers.

 

Taxand's Take


Individual or corporate taxpayers filling tax returns in Venezuela can become subject to a review of their current tax situation by the Tax Administration.

We recommend multinationals work with local specialists to prepare appeal documents they can file before public authorities, to litigate against any irregular decisions from the tax authorities.

Click here to read the full article from Taxand Venzuela

Your Taxand contacts for further queries are:
Manuel Candal
T. +58 212 750 0095
E. mcandal@taxand.com.ve

Ellen Susana Morales
T. +58 212 750 0095
E. emorales@taxand.com.ve

The full article was first published in the November/December issue of Taxand's Take and in BNA Tax Planning International Tax Review December 2010.

Taxand's Take Author