Importers exempt from taxes on raw materials to "speed up" production

Caracas.- The President of the Republic, Nicolás Maduro, signed on Wednesday a decree by which he releases taxes for at least one year the natural or legal persons who bring equipment goods to the country , raw materials "Decree to exempt from taxes and import relief all equipment goods, raw materials and inputs and agricultural inputs, spare parts, machinery and equipment produced manufactured, "said the chairman of the Palace He explained that the exemption will last one year and will be launched immediately" according to the tariff codes that should be sent to the respective ministries and tax institutions of the country ", without providing any information. 39, other explanations about.

Maduro asked ministers of the economic space to "follow in detail" the fulfillment of those decisions that seek "immediate benefits for the real economy of the country" and for "happiness the people's economy ".

The Vice President of the Economic Area, Tareck el Aissami, said that this measure will serve to "rapidly strengthen the productive forces" and "seeks in the first place to support the national productive sector so that" it can be made up of capital goods with its own currency, make machinery, raw materials. "

Businessmen" can get the necessary inputs "and" accelerate economic growth, " he added.

The International Monetary Fund predicts that Venezuela's inflation will close at 1,000,000% and that the economy will decrease by 18% in 2018 and by 5% in 2019, 3 percentage points more and one less than what was calculated in April.