Chamber of Commerce: Applying Igtf in Margarita contradicts the essence of the Law on Special Economic Zones

Chamber of Commerce: Applying Igtf in Margarita contradicts the essence of the Law on Special Economic Zones

Photo: La Patilla

 

Businessmen ratify the urgency of adapting tax  legislation to the Law of Special Economic Zones so that it corresponds to the model in which they really hope to promote the recovery of the local economy and tourism.

By La Patilla

Feb 21, 2023

José Gregorio Rodríguez, President of the Nueva Esparta Free Port and Production Chamber of Commerce, urged reviewing the application of the Tax on Large Financial Transactions, considering that this is contradictory and goes against the current objectives of the Special Economic Zone approach, as has been declared the state of Nueva Esparta.





He remarked that with the payment of income tax, businessmen already pay the State the corresponding contribution so that it invests them in the social responsibilities that it must guarantee to Venezuelans.

The President of the commercial association of the state also summoned the government authorities to put into force the Tax Harmonization Law in order to curb the fiscal voracity that arises from the double payment of some taxes.

Mr. Rodríguez reiterated that the excessive taxation currently in force in the country, obviates the taxable capacity of the subject and tends to appropriate the patrimony of taxpayers since they are subjected to a tax burden that threatens the development and continuity of economic activity.

Read More: La Patilla – Chamber of Commerce: Applying Igtf in Margarita contradicts the essence of the Law on Special Economic Zones

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