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RE: Taxes and New Economic Measures.

in Project HOPE4 years ago

Dear @juanmolina

Finally I managed to find some time to catch up with work and read your publication. Another solid piece, worth checking out (upvote on the way).

I wonder if those officials and tax office have resources and man power, which is necessary for tax system to work properly. I can imagine that most people in Venezuela do not care about taxes at all, since they struggle to survive.

What these economic measures seek is to increase the demand for bolívares, and thus try to stabilize the exchange rate, promoting the use of the Bolívar over the use of the dollar by increasing the limits of electronic transactions and at the same time creating taxes on the currency transactions.

So ... taxes are way that suppose to bring more demand for local currency. Is that what you're saying? It surely in THEORY make sense....

Enjoy your sunday :)
Yours, Piotr

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 4 years ago 

Greetings, dear Piotr.

So ... taxes are way that suppose to bring more demand for local currency. Is that what you're saying? It surely in THEORY make sense....

No, it isn't.

I wonder if those officials and tax office have resources and manpower...

The national administration will apply these taxes to banking transactions carried out in dollars.
So with only one order from "SUDEBAN", the banking entities must make the adjustments to their systems and have the human resources, in order to comply with this new government resolution.

Cheers!