Venezuela legal and accounting and tax considerations in 2024

Venezuela corporate tax

  1. Venezuela corporate tax is at 34% and tax returns must filed every year with fines of up to 200% for late filing;
  2. Investors in Venezuela pay capital gains tax at 34%;
  3. Branch tax in Venezuela is charged annually at 34%;
  4. In Venezuela, withholding tax on dividends is paid at the rate of 34% for all companies if dividends exceed net taxable income;
  5. Non-residents royalties are taxed at 90% of gross income therefore withholding tax is 30.6%;
  6. VAT in Venezuela is levied at a rate of up to 12% and filed every year;
  7. Payroll tax is at 2%;
  8. Employers must pay Social security contributions of up to 12% and are also required to withhold 2% of their employees’ gross salaries, to be remitted to the tax authorities;
  9. Municipality tax is up to 10% of annual sales;
  10. It is important our Clients’ are aware of their personal and corporate tax obligations in their country of residence and domicile; and they will fulfill those obligations annually. Let us know if you need Healy Consultants’ help to clarify your annual reporting obligations.

Contact us

For additional information on our accounting and tax services in Venezuela, please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi