According to recent reports, Venezuela has increased the tax unit (unidad tributaria - TU) value from VES 50 to VES 1,500. The increase was provided in Resolution SNAT/2020/00006, which was published in the Official Gazette on 13 March 2020 and is generally in force from that date. The amount will be used exclusively in the application of national taxes.

For corporate income tax, the increase …