Venezuela Exempts VAT on Sales & Imports of Building Materials

Venezuela government on May 3, 2011 released a notice on exempting value-added taxes (VAT) on sales and imports of building materials, including cement, tile, rebar, metal net, wood, board, cable, electrical components, doorframe, window, glass, tubing, valve, paint and so on;

Venezuela also exempts VAT on some services such as research, design, production, assemble, and building; and additionally exempts income tax on building enterprises participating in its "Housing Plan".