Government and National Assembly discuss fiscal reform
Deputy Ricardo Sanguino said the proposals are being evaluated
One week ago, Venezuelan Minister of Planning and Finance Jorge Giordani urged one more time the National Assembly (AN) "to undertake an in-depth fiscal reform. Those who earn more will have to pay more." Hence, the chair of the AN Finance Committee, Ricardo Sanguino, announced they are already working on such reform.
"We are evaluating the best proposal to conduct the fiscal reform. We are taking a look at the effective tax laws and other laws that may be added so as to obtain funds from those who earn more. This does not mean income is insufficient. We are just making an assessment. We have not made any decision about the right timing," Sanguino elaborated.
The congressman did not list the new taxes. When requested whether they would take into account the taxes proposed in the Socialist Plan 2007-2013, he answered, "We are considering all the alternatives."
The government plan includes a fiscal reform providing for income tax progressivity -Higher income people should pay higher taxes- and a revision on the Value Added Tax (VAT).
It also provides for a new tax on the appreciation of immovable property, public works for default; a tax on luxury goods; a tax on the use of luxury services; and a tax on production-oriented facilities & equipment in use without any justification.
Translated by Jhean Cabrera
A simple reason: there is oil galore, would suffice to explain Guyana's actions. Another explanation lies in the little or none efforts made by the Venezuelan government to thwart the move by the Guyanese. This is certainly not a new problem, but a problem only recently highlighted because oil is involved. But what other resources does the disputed area hold? For most of us it is a section on the map with black and white stripes on it, a depiction of something distant, alien, a nothingness not worth paying much attention to in geography classes back in elementary school.