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:
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