Venezuelan reform of Windfall Oil Price Tax increases threshold contribution [TAX ALERT]

May 2, 2013

The Law of Special Contribution due to Extraordinary Prices of the Hydrocarbons International Market (the Windfall Oil Price Tax), published in the Official Gazette N° 40,114 on 20 February 2013, increased the monthly threshold of the Venezuelan liquid hydrocarbons basket for Extraordinary and Exorbitant Prices of Hydrocarbons.

Further details are available from the Ernst & Young Tax Alert which can be accessed using the link below:

Questions or comments? Contact T Magazine and Ernst & Young

EY refers to one or more of the member firms of Ernst & Young Global Limited (EYG), a UK private company limited by guarantee. EYG is the principal governance entity of the global EY organization and does not provide any service to clients. Services are provided by EYG member firms. Each of EYG and its member firms is a separate legal entity and has no liability for another such entity's acts or omissions. Certain content on this site may have been prepared by one or more EYG member firms.