Business Reforms in Venezuela, RB

Positive= Doing Business reform making it easier to do business. Negative= Doing Business reform making it more difficult to do business.

DB2013:

Employing Workers:

República Bolivariana de Venezuela introduced a new Labor Code that prohibits redundancy dismissals.


Negative Starting a Business:

República Bolivariana de Venezuela made starting a business more difficult by increasing the cost of company incorporation.


Negative Paying Taxes:

República Bolivariana de Venezuela made paying taxes more costly and difficult for companies by introducing a sports, physical activities and physical education tax.


DB2012:

Negative Paying Taxes:

República Bolivariana de Venezuela made paying taxes costlier for firms by doubling the municipal economic activities tax (sales tax).


DB2011:

Negative Starting a Business:

República Bolivariana de Venezuela made starting a business more difficult by introducing a new procedure for registering a company.


Positive Paying Taxes:

República Bolivariana de Venezuela abolished the tax on financial transactions.


DB2010:

Negative Paying Taxes:

República Bolivariana de Venezuela introduced two new taxes, increasing the tax burden on businesses.


DB2009:

Negative Paying Taxes:

Since November 1, 2007 the Tax on Financial Transactions is levied at a rate of 1.5% on payments made to third parties.


DB2008:

Positive Registering Property:

República Bolivariana de Venezuela made registering property faster by implementing time limits at several agencies.


Negative Paying Taxes:

República Bolivariana de Venezuela made it more difficult to pay taxes by introducing three new taxes.


Negative Trading Across Borders:

República Bolivariana de Venezuela made exporting more difficult by introducing new requirements for registration of export transactions.


Reform Summaries


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