INSUBCONTINENT EXCLUSIVE:
pension system, weakened by years of economic crisis and international sanctions.This new measure follows a law approved by the
government-controlled National Assembly, which permits a tax of up to 15%.The tax takes effect immediately, as outlined in the decree
published on May 16.Companies registered in a national registry may receive up to a one-year exemption from this tax.The initiative aims to
(Photo Internet reproduction)The government seeks to ensure a better distribution of wealth to pensioners, whose payments are made in
bolivars.This currency has significantly depreciated
Currently, around 5 million Venezuelans receive pensions.Moreover, 22.6% of the economically active population works in the private
complex tax structure, potentially burdening the private sector further.Critics highlight that the tax could increase operational costs,
making it harder for businesses to remain profitable and competitive.Venezuela Imposes 9% Tax on Businesses to Fund PensionsThe government
justifies the new tax as necessary to restore the welfare state and counteract the adverse effects of international sanctions.President of
external pressures.As the government implements this tax, businesses will need to adapt to the new financial requirements.They must navigate
