Venezuela - Import TariffsVenezuela - Import Tariffs
Import duties are calculated on the Cost, Insurance and Freight (CIF) value of the shipment. Venezuela has been a WTO member since 1995 – its harmonized tariff schedule can be seen online.
Venezuela completed its withdrawal from the Andean Community (CAN) in April 2011 and completed the phase out period of CAN-related rights and obligations. CAN norms covering a wide range of disciplines, however, had been incorporated into local law, and it remains unclear how these laws apply following Venezuela’s withdrawal.
On December 2, 2016 Venezuela was suspended from the Southern Common Market (MERCOSUR) after having become the fifth full member of the bloc in July 2012 summit in Rio de Janeiro. The decision was based on Venezuela’s failure to fully comply with entry requirements, including the Asuncion Protocol on Human Rights, the 2002 Agreement on the Internal Immigration of Citizens of MERCOSUR, and the Economic Complementation Agreement. Venezuela had four years from its date of accession to adopt the MERCOSUR Common External Tariff (CET) and to provide duty-free treatment to its four partners on all goods, with sensitive products allowed a two-year extension. On April 1, 2014, Venezuela adopted phase-two of the CET for 21 percent of the goods in its tariff schedule and was supposed to adopt the CET for an additional 14 percent of products on April 1, 2015.
Between April and September 2016, Venezuela adopted a series of MERCOSUR norms and resolutions, including on agricultural, petrochemical, manufacturing, and telecommunication industries. On December 30, 2016 Venezuelan adopted a number (Official Gazette 6.281) of MERCOSUR CET and other customs tariffs. However, many of these regulations have been adopted by presidential decrees and have not yet been ratified by legislative authorities. Exceptions to the CET exist on a product-specific or sector-specific basis, mainly for goods not produced within the union or those that potentially affect the production capacity of the members. Due to the lack of official government information and access, there is no list of these exceptions. Venezuela was indefinitely suspended from the Non-Aligned Movement, the Southern Common Market (Mercosur) in August 2017 “for a rupture of the democratic order.”
Customs authorities will accept the value of the shipment that is indicated on shipping documents such as the bill of lading, but GBRV regulations allow customs to reference a base price for some products, such as textiles, to determine customs value. Under-invoicing can result in heavy fines to the importer as well as forfeiture of the goods in question. In Venezuela, over-invoicing is more common due to the multiple exchange rate system and excessive delays in obtaining foreign exchange for imports. Exporters should be aware that over-invoicing is illegal under Venezuelan law and exporters should not cooperate with such attempts by importers since detection could jeopardize the company’s receivable and endanger future exports to Venezuela.
Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.
Venezuela completed its withdrawal from the Andean Community (CAN) in April 2011 and completed the phase out period of CAN-related rights and obligations. CAN norms covering a wide range of disciplines, however, had been incorporated into local law, and it remains unclear how these laws apply following Venezuela’s withdrawal.
On December 2, 2016 Venezuela was suspended from the Southern Common Market (MERCOSUR) after having become the fifth full member of the bloc in July 2012 summit in Rio de Janeiro. The decision was based on Venezuela’s failure to fully comply with entry requirements, including the Asuncion Protocol on Human Rights, the 2002 Agreement on the Internal Immigration of Citizens of MERCOSUR, and the Economic Complementation Agreement. Venezuela had four years from its date of accession to adopt the MERCOSUR Common External Tariff (CET) and to provide duty-free treatment to its four partners on all goods, with sensitive products allowed a two-year extension. On April 1, 2014, Venezuela adopted phase-two of the CET for 21 percent of the goods in its tariff schedule and was supposed to adopt the CET for an additional 14 percent of products on April 1, 2015.
Between April and September 2016, Venezuela adopted a series of MERCOSUR norms and resolutions, including on agricultural, petrochemical, manufacturing, and telecommunication industries. On December 30, 2016 Venezuelan adopted a number (Official Gazette 6.281) of MERCOSUR CET and other customs tariffs. However, many of these regulations have been adopted by presidential decrees and have not yet been ratified by legislative authorities. Exceptions to the CET exist on a product-specific or sector-specific basis, mainly for goods not produced within the union or those that potentially affect the production capacity of the members. Due to the lack of official government information and access, there is no list of these exceptions. Venezuela was indefinitely suspended from the Non-Aligned Movement, the Southern Common Market (Mercosur) in August 2017 “for a rupture of the democratic order.”
Customs authorities will accept the value of the shipment that is indicated on shipping documents such as the bill of lading, but GBRV regulations allow customs to reference a base price for some products, such as textiles, to determine customs value. Under-invoicing can result in heavy fines to the importer as well as forfeiture of the goods in question. In Venezuela, over-invoicing is more common due to the multiple exchange rate system and excessive delays in obtaining foreign exchange for imports. Exporters should be aware that over-invoicing is illegal under Venezuelan law and exporters should not cooperate with such attempts by importers since detection could jeopardize the company’s receivable and endanger future exports to Venezuela.
Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.