Capital goods imports to be income tax-exempt


Caracas, 15 May. AVN.- Executive Vice President Jorge Arreaza, announced Tuesday that the head of state, Nicolas Maduro, made the decision to waive the income tax for the import of capital goods.

These goods are machinery and equipment to be used to meet citizens' basic needs as food, shelter, education and health, among others.

"This shows the great effort that President Maduro and National Government do to ensure that in the future we can produce to meet our needs," said Arreaza from Miraflores Palace after attending the meeting with businessman Lorenzo Mendoza, the CEO of Polar Group, a major food manufacturer and distributor, and President of the Republic, Nicolas Maduro.

Arreaza also said Tuesday that the National Government will begin testing production modalities at special economic zones (SEZ), a strategy that has paid off for countries like China.

"Let's go to special economic zones to test different modalities with private, mixed, community property so we can have major production centers," said Arreaza in local television.

On the meeting with Lorenzo Mendoza, Arreaza described the meeting as "frank and sincere, in which both parties are committed to producing timely."

There was recognition of the problems of high demand that emerged late last year and early this year, coupled with panic purchases, vice president added.

He said the product on which they discussed in depth is precooked corn flour. "President Maduro heard the concerns, and will seek communication between the parties, to boost the country's food sovereignty."

Arreaza added that Finance Minister Nelson Merentes, will hold meetings with other economic sectors in the coming weeks.

"Chavez bequeathed us dialog, respecting differences and taking them into account for the purpose of decision making," said the vice president.

15/05/2013 - 12:30 pm