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No mercy! The Bank Debits Act was approved 30 years ago

This Act was approved under an enabling authority
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Published at: 20/04/2024 10:50 AM

30 years ago, the then President of the Republic, Rafael Caldera, met with the economic cabinet for the enactment of a set of laws to disappoint the Venezuelan people.

For the time being, the Caldera government began to discuss a package of tax reforms and hours after the economic cabinet approved a series of reforms aimed at replacing the suspended value added tax (VAT) at the consumer level.

In this regard, the rate of a tax on bank debits was approved, fixed at a rate of 1.5 percent that would be applied to transactions, such as withdrawals or transfers.

This measure directly affected the people's income, which in addition to suffering a series of economic measures imposed arbitrarily and which considerably reduced the low income of Venezuelan families.

Mazo News Team