SENIAT: Applicable rates for the calculation of late payment interest corresponding to March, April, May, and June of 2024

SENIAT: Applicable rates for the calculation of late payment interest corresponding to March, April, May, and June of 2024

On July 2, July 17, and July 25, 2024, the National Integrated Customs and Tax Administration Service (SENIAT) published Rulings Nos. 068, 076, 077, and 081, all published in Official Gazette No. 42,946 of August 21, 2024, establishes the applicable rates for calculating late payment interest corresponding to March, April, May, and June 2024.

For such purposes, the following weighted average rates of the six (6) main commercial and universal banks in the country with the most significant volume of deposits, excluding portfolios with preferential interest, set by the Central Bank of Venezuela, were set:

• For March, 58.98%.

• For April, 58.98%.

• For May, 59.20%.

• For June, 59.25%.

In all of the aforementioned scenarios, the interest rate will be multiplied by 1.2 to calculate the late payment interest accrued during the months specified above.