According to recent reports, Venezuela has increased the tax unit (unidad tributaria - TU) value from VES 1,500 to VES 20,000. The increase was provided by Administrative Ruling SNAT/2020/00006, which was published in the Official Gazette on 6 April 2021 and is generally in force from that date. The amount is used exclusively in the application of national taxes.

For corporate income tax, the …