On Thursday, August 25, the National Assembly of Venezuela approved on first discussion the Organic Law for the Coordination and Harmonization of the Tax Powers of the States and Municipalities, with the purpose of strengthening efforts to develop the Venezuelan economy.
The bill was presented by the president of the Permanent Commission on Economy, Finance and National Development, Deputy Jesús Faría, to reorganize the national tax structure.
According to Faría, the purpose of this bill is to coordinate and harmonize the structure of the regional and local governments with the current national economic vision.
He stated that this is a broad progressive tax reform in which those who own more pay greater taxes.
#25Ago || Diputado Jesús Faria presenta la Primera Discusión del Proyecto de Ley Orgánica de Coordinación y Armonización de las Potestades Tributarias de los Estados y Municipios. pic.twitter.com/IwrlBisJPZ
— Asamblea Nacional 🇻🇪 (@Asamblea_Ven) August 25, 2022
Deputy Ramón Lobo added that the law would put in order some entities where taxes are being fixed for consideration, which do not take into account other entities established in the Constitution of the Bolivarian Republic of Venezuela, such as the state, regional and municipal entities.
Meanwhile, the head of the Parliamentary Block of the Opposition, Deputy Óscar Ronderos, stated that the right wing supports an integral tax reform, which may limit the local, regional and national fiscal voracity.
The debate in the National Assembly came about after President Nicolás Maduro announced that the parliament would debate a new law to unify the attributions of the states in tax matters.
The president stated that this law will “put an end to the current tax chaos and move towards a single national tax strategy.”
He also stressed that the law will protect the socioeconomic rights of the Venezuelan people, eradicating speculation and theft at the commercial level.
(RedRadioVE) by Ana Perdigón
Translation: Orinoco Tribune
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