Inheritance Tax Law, Donations and other related areas
INHERITANCE TAX LAW, DONATIONS
And other related areas
Gazette Extraordinary No. 5391 dated 22 October 1999.
HUGO CHAVEZ FRIAS
PRESIDENT OF THE REPUBLIC
In exercise of the powers conferred by ordinal 8 of Article 190 of the
Constitution and in accordance with the provisions of subparagraph d) of paragraph 3 of
Article 1 of the Organic Law that Authorizes the President of the Republic
dictate extraordinary measures in economic and financial matters required by
the Public Interest, published in the Official Gazette of the Republic of Venezuela No.
36,687 dated 26 April 1999, the Council of Ministers,
DICTA
the following
INHERITANCE TAX LAW,
DONATIONS and other related areas
PART I
INTERPRETATION
Article 1: The free transfer of rights by reason of death or
between live acts will be taxed at the tax referred to in this Act
in the terms and conditions set forth therein.
PART II
HEREDITARY SUCCESSION TAX
CHAPTER I
THE SUBJECT PROPERTY AND TAXED
Article 2: are hereby required to pay the tax for this
Act beneficiaries of inheritances and legacies which include movable or
property, rights or shares located in the country.
Article 3: It is understood located on national territory:
Stocks, bonds and securities issued in Venezuela and the cast
abroad by companies incorporated or domiciled in the country.
Stocks, bonds and other securities issued outside Venezuela by
when foreign companies are owned by persons domiciled in the
country.
The rights or actions that fall on assets located in Venezuela.
The personal rights or obligations whose legal basis and has done
in Venezuela.
Article 4: Notwithstanding the collateral provided for in this Act
ensure payment of the tax liability, s heirs and legatees respond
and particularly of individual tax for its own share.
CHAPTER II
Del Monte and the Cause of the tax
Article 5: The tax on inheritances and legacies is because where they are
encumbered property located at the time of the opening of succession, if the
, they found property located in jurisdictions other than the place to be determined
by the main entry for the interests of the deceased, or failing that, by the
location of any of them.
Article 6: In the case of proceedings for a declaration of absence or
presumption of death by accident, the tax on property sucesoral
absent or deceased alleged cause agreed upon,
under the Code, the temporary possession of such property to persons
Calls to happen.
If the missing or presumed dead regain their property in terms of you
the Code, shall be returned to those who satisfied the sums it has
perceived by the Treasury indicated the concept.
Article 7: The tax on inheritances and legacies will be calculated on the
liquid corresponding to each heir or legatee, in accordance with the following
graduated progressive rate:
CHAPTER III
OF EXEMPTIONS, relieve
Reliefs AND REDUCTIONS
> Article 8 °: are exempt:
1. The local authorities.
2. The hereditary share corresponding to the ascending descendants
spouse, parent and child for adoption does not exceed seventy-five
tax units (75 UT)
3. Public entities engaged primarily non-territorial
charitable activities and social assistance or protection provided
allocate the goods received, or its product, the fulfillment of those purposes.
Article 9 °: The National Executive may exempt from tax:
1. And public entities whose primary purpose is to
scientific, educational, artistic, sporting, recreational or nature
similar.
2. Private establishments nonprofit, engaged
mainly to make health care charities, social protection
or going to the foundation of establishments in the same kind or of
religious worship or public access to the activities listed in the
previous ordinal.
3. The foundations instituted probate when participating in the
purposes specified in paragraphs 1 and 2 of this article.
4. The hereditary part of the collection consists of shares issued by
capital corporations registered open up to
hundred tax units (500 UT) and that represented by
investments made from the date of enactment of this Act
tourism activities and facilities for a maximum of five hundred
tax units (500 UT).
5. The hereditary part of the collection consists of the capital deposited in
savings accounts in financial institutions legally constituted
authorized to receive them and invested in bonds, mortgage bonds and
other obligations issued by these institutions up to the amount of
hundred tax units (500 UT) in all cases.
6. Beneficiaries of estates whose only asset consists of farms
agricultural exploitation representing the small and medium land.
The regulation will set the criteria for determining small and medium
property.
Article 10: Not part of the estate for the purpose of settling the
tax and the amount of its corresponding value is excluded from the computation of the
tax base, the following assets:
1. The house that served as a permanent seat home of the deceased
and exchanged for these purposes to ancestors, descendants, spouse
parent and child by adoption.
2. The amounts received in benefits or compensation
labor, insurance contracts and those paid by mutual institutions
montepio assistance or if they are the occasion of the death of
deceased.
3. The books, clothes and utensils for personal and household furniture
the deceased, are not included in this exemption jewelry and objects
constituting valuable art collections, archives or value
Historic National Executive to trial.
4. Those that corresponds to enter public land when there
other heirs or legatees.
Article 11: It provides for a reduction in the amount of tax payable
liquid on the share of the heir or legatee, provided it does not exceed
tax hundred units (100 UT) in the manner expressed below:
1. The surviving spouse 40%.
2. A totally and permanently disabled to work or earn a
life 30%
3. A partial and permanently disabled to work and earn a
life 25%
4. The children under the age of 21 years 40%
> 5. At age 60 years 30%
6. For each child, even adoptive child who has charge of the heir or
legatee 5%
7. To those who give them aid or reward for years of service
rendered to the deceased, provided that the amount deferred to each beneficiary
not exceeding twenty tributary units (20 UT) 30%
Paragraph One: When you attend a beneficiary in more than one of
conditions or circumstances set forth shall apply the reduction only
would be more favorable.
Paragraph Two: The reductions provided in the first six ordinal
only be agreed if the net quota received by the heir or legatee regardless
exceeding two hundred and fifty units payable (250 UT). If
but not more than five hundred tax units (500 UT) the
reductions will be applied in half.
Article 12: If the time of transmission, the heir or legatee have –
own assets, net of its assets are added to the liquid Cuba received, the
limits set them late in paragraph two of Article
precedent.
Article 13: If the legacy has been established with the obligation for the
heir, to pay the taxes that apply to the legatee, the reductions
apply because of the personal situation of the heir.
Article 14: If within a period of five (5) years ever occur a new
straight transmission on death, assets which have already been
taxed under this law, new taxes will be reduced relative
those same assets to ten percent (10%) of that amount for each
missing the fullach
missing the full years to meet the five (5) years.
CHAPTER IV
THE tax base
Article 15: The net worth left by a deceased be determined by subtracting
the universality of the assets which form the active, all of the charges
the passive form, with the rules and limitations established by this law.
In determining the net assets inherited assets are not included
exempt, nor tax deductible.
Article 16: The liquid share was calculated based heir to equity
left by the deceased after subtracting the value of the legacies and charges
established by it for the benefit of others and applying the exemptions
benefit him as such.
Article 17: The legatee liquid share is calculated by the value of the property or
goods that are the legacy, given that exemptions
benefit as such.
SECTION I
ASSETS
Article 18: They are part of the assets of the estate, for the purposes of this Act:
1. All assets, rights and actions for the time of opening
succession are on behalf of the deceased, under title
issued according to law
2. The properties for the time of opening of the succession
appeared disposed of by the one responsible for non-standardized documents in
the relevant Public Record Office under the law, with
Except for disposals constant authentic documents, which
grant has taken place at least two (2) years before death
the deceased.
3. The property sold for consideration by the deceased in the previous year
On her death, for those who are called by law to succeed;
of those who appear instituted as heirs or legatees; of
persons presumed to be those brought under the Civil Code;
> or legal persons belonging to one or the other.
Apart from cases that have full justification for the
price from disposals of such assets to pay obligations
and expenses for the deceased, to the acquisition, the name of it, other
property, to replace the insane. or that the money is invested
in bank deposits or loans for the deceased.
4. The assets acquired for consideration in usufruct by the deceased and
bare ownership by the persons referred to in the preceding, always
that the operation was made in three (3) years prior to his
death.
5. The property sold for consideration by the deceased in bare ownership
and with reservation of usufruct to these same people, within five (5)
years before his death.
6. Any other goods which would have left the estate of the deceased
through acts designed to defraud the treasury rights, provided that
circumstances it appears clear, precise and concordant
sufficiently substantiated.
Article 19: In cases which is formed for one or more heirs or
legatees the usufruct, use, bare room or ownership of property, the value of
these rights are determined by the following rules:
1. In the case of usufruct, use or occupancy for life or bare ownership,
be allocated the corresponding tax value of the freehold,
as follows:
TABLE
RECIPIENT OF THE VALUE OF AGE
VALUE NUDA
Usufruct, use or
PROPERTY
ROOM
UNDER 20 YEARS 7 / 10
3 / 10
MORE THAN 20 YEARS 6 / 10
4 / 10
UP TO 30 MORE THAN 30 YEARS TO 40 5 / 10
5 / 10
MORE THAN 40 YEARS TO 50 4 / 10
6 / 10
OVER 50 YEARS TO 60 3 / 10
7 / 10
OVER 60 YEARS TO 70 2 / 10
8 / 10
MORE THAN 70 YEARS 1 / 10
9 / 10
2. If the usufruct, use or occupancy for life, have been transmitted
simultaneously to people of different ages, will determine the
portion that corresponds to each beneficiary in these rights
proceeds as follows:
It will draw the part that corresponds to the bare ownership, calculated
only for the table above, in relation to the child’s age of
the beneficiaries of the usufruct, use or occupancy, as appropriate. The remaining
be divided by the total obtained by adding together the figures indicated in the
aforementioned table, and ‘number of tenths allocated usufruct, use or
room, according to the age of the beneficiary.
The ratio thus obtained is multiplied by each of these figures, and
corresponding results will form the respective portions of the
beneficiaries.
3. If equal rights for life and turn it transmits is
calculate the tax under the principles stated above,
considered only as appropriate, or beneficiaries to enter into
first to enjoy these rights.
Article 20 Where the usufruct, use or occupancy are or
constituting certain time, regardless of the beneficiary’s age,
the value of those rights will be determined by two percent (2%) of the value of the
full ownership for each year or fraction to be last, and that of the bare
property will be the resulting difference between the total and the percentage indicated
entire property value.
Article 21: When in favor of one or more heirs or legatee s becomes a
annuity, its value is equal to the fraction of capital that produces such income
> a rat six percent (6%) per annum in accordance with the following proportions
established by age of recipient:
AGE
BENEFICIARY
FRACTION OF
CAPITAL
UNDER 20 YEARS 7 / 10
OVER 20 YEARS
UP TO 30
6 / 10
OVER 30 years
UP TO 40
5 / 10
MORE THAN 40 YEARS
UP TO 50
4 / 10
OVER 50 YEARS
UP TO 60
3 / 10
OVER 60 YEARS
UP TO 70
2 / 10
MORE THAN 70 YEARS 1 / 10
Paragraph One: Where the same income is simultaneously transmits
two or more persons, shall be calculated separately, as indicated above, the
capital corresponding to the proportion of income allocated to each, and the tax
be caused, respectively, according to the portion provided in the table
earlier, according to the beneficiary’s age.
Second Paragraph: If the annuity is for life, and transmits on, is
calculate the tax under the principles stated above,
considered only as appropriate, to benefit them or entering first
place to enjoy the income.
Article 22: When you forward or constitutes income for a specified period,
calculate the productive capital that pension or interest income of six (6%)
year and the tax will about two percent (2%) of this capital
each year or partial year covered by the period of income or pension, without
take into account the age of the benefit.
Article 23: The asset value is that which has the property and rights that
formed to the time when the deceased has died. When the value
declared is less than the market value of those assets and rights,
taxpayer must reasonably justify the grounds on which it bases its
estimate.
Article 24: In cases of inheritance accepted benefit of inventory, the value
of assets and debts of the estate or charges will be shown in the
judicial inventory, subject to the modifications which arise as
result of a subsequent administrative verification.
SECTION II
LIABILITIES
Article 25: They are the liabilities of the estate:
1. The debts of the deceased exist by the time of the
opening of the succession.
2. The cost of transferring the corpse to the place of burial and of
embalming, funeral and burial.
3. The costs of opening of the will, the inventory valuation and
declaration of inheritance.
4. The fees payable to lawyers, economists,
public accountants or appraisers, by reason of the transactions being
referred to in previous paragraph.
For the elected of the Act, the total of such fees be subject to the
limits calculated using the following rate:
Hereditary Liquid Percent
20 01 UT to 50 UT 6%
5.01 UT 200 UT 4%
From 200.01 UT to 500 UT 3%
UT 500.01 From 2%
If the liabilities are not included RETAS court fees, the
RETAS officials may request when they deem excessive.
Article 26 shall not be considered part of the person the following debts:
1. The date prescribed for the death of the deceased, when he is
waived the requirement.
2. The declared and recognized in the will or the particulars contained in
private documents signed by the deceased, there are no other
elements that check.
3. The causes or to be performed outside the country. However,
> deducted those caused or arising in connection with investments or
activities in Venezuela, unless they are secured by
pledges or mortgages on property located on the outside.
4. The resulting mortgage or unsecured loan made by the
cause, in the year preceding the date of death wing, for whom
are called Port Act to cede, of whom appear instituted as
his heirs or legatees; of persons presumed to be filed
of those under the Civil Code, legal persons or the
which the cause and natural persons mentioned above are
partners or shareholders individually or jointly, unless
have full justification for its proceeds to pay
obligations and expenses for the decedent, the acquisition
name of this other property represented in the active or the
product is invested in bank deposits or other credits
some for the deceased.
5. Mortgage loans secured or unsecured housing in the
it relates to paragraph 1 of Article 10.
CHAPTER V
DECLARATION
Article 27: For the purposes of determining the tax, the heirs and legatees,
or either of them shall be filed within the finger eighty (180)
days following the opening of succession affidavit Heritage
taxed under this Act wing
Article 28: The declaration must contain in detail each and every one of the
elements that form the heritage assets and liabilities, including their value
and other identifying characteristics, including exempt property and rights,
exempt or tax-deductible and other data necessary for determining the share
liquid and the tax burden for each heir or legatee.
Article 29: The obligation of paying taxes on inheritances or legacies
remains even when the liabilities of the estate equals or exceeds the asset.
Article 30: The declaration must be made on the form for that purpose
establish the Ministry of Finance, and fill all the requirements and formalities
to be established in the regulations under this Act or by resolution of
Ministry of Finance.
Article 31: The witnesses must accompany all attachments required by this
Act and its regulations, without prejudice to those that they consider necessary to
prove or verify the specific circumstances that shape their capacity
contributory.
Article 32: When you declare shares, bonds issued by entities
public or title companies and other s values appended to the
statement issued by a certified public accountant or Administrator
Commercial, which determines the market value of such property.
If the securities are traded certification suffice prices
currents at the opening of the succession, issued by the stock market
concerned.
Article 33: When in the assets of the estate there are goods which by their
nature are difficult to inventory or in cases in which impaired
insurmountable are inadequate regular lapses, the competent official
is empowered to grant extra time in order to make the
inheritance declaration, provided that the taxpayer requested before
fixed term expires this Act to make statement.
Article 34: They are competent to receive the declaration seconded
> to the office of the Ministry of Finance where they cause the
tax.
The cases of conflict of jurisdiction in this matter will resolve the Ministry of
Finance.
Article 35: The regulation of this law shall determine the rules concerning the place and
terms of the declaration in cases of inheritance accepted benefit
inventory, assets of alleged missing or deceased and other special cases.
CHAPTER VI
OF THE SETTLEMENT AND COLLECTION OF TAX
Article 36: Settlement bonafide of taxes imposed in this
law will be practiced by the heirs and beneficiaries in the same form of the
statement and based on its content.
By order of the Ministry of Finance may order that any
Taxpayers subject to this Act, pay a receiving office
national funds, including taxes, the settlement provided for in
heading of this article with the terms and within the time limits
It identifies.
Article 37: The administrative settlement includes:
1. The verification of the payment made by taxpayers.
2. The issuance of additional forms that may be due, as
result of the tax objections.
3. The determination of the tax in cases for estimating informal objections.
4. The imposition of fines for violations in the declaration.
5. The determination of the interest penalty.
6. The determination of the rights or refunds for the
taxpayers.
Article 38: Are competent to review the self-assessment, practice
administrative settlement and to conduct audits, staff
Ministry of Finance, with jurisdiction in the place where the tax and cause
other officials to whom this power is conferred on the
Regulations of this Act or by resolution of the Ministry of Finance.
Article 39: Verification of the liquidation shall be conducted within the terms and
regulations and procedures in performing these functions
Administration may revise the declaration, require the taxpayer
necessary corrections or comply with some requirements that
shall fail in her. It may also request additional information and data that
deems appropriate to determine his veracity.
Article 40: In the verification of the liquidation, the Directors shall:
1. Report agreed to taxpayers, issuing the corresponding
form.
2. Notify a taxpayer in a reasoned and adequate
reasons, the amount resulting from the changes made in the
reported data or calculations made by them.
3. In case of default of the contributors to the requirements laid down
in the previous article, practice office settlement with the imposition of
corresponding fine.
Article 41: When the inheritance or legacy has been established under condition
subsequent, shall be deemed for the purposes of tax pure and simple, but
in the case be defeated by the fulfillment of the condition, practice
a new payment of duties, depending on the degree of kinship with the
have caused the final beneficiary and will be returned or charged the difference
it is a result between the first and second clearance, as appropriate.
If the inheritance or legacy under a suspensive condition transmits the tax is
require wing person remaining in possession of the goods to the
> time to verify the condition, which perform a new settlement
rights in the terms and the purposes specified in the preceding paragraph.
Article 42: When the heirs or legatees must prove compliance
of tax obligations, request a certificate from the Tax Authority
which must be issued within a period not exceeding three (3) days.
If this administration is unable to grant it, will
documented evidence of this fact within the same period, which will have equal
effect that the certificate.
In any case, the administration retains the right to verify the exact
implementation of standards within the statute of limitations.
Article 43: When the heirs or legatees are subject to some
administrative control or verification, may request that they be given the
certificate referred to in the preceding article, upon provision of security
sufficient and satisfactory to the National Treasury.
In this case, the tax authority shall decide within
fifteen (15) days after receipt of the request.
Article 44: The competent officials may, on the guarantees
sufficient to allow payment of taxes established in this law in various
portions, with a term not exceeding one year.
Article 45: After completed the collection of taxes or have
declared his exoneration or termination in the cases determined by this law, the
administration to give taxpayers a solvency or certify
release.
CHAPTER VII
FISCAL CONTROL AND WARRANTIES
ON BEHALF OF THE NATIONAL TAX OFFICE
Article 46: The audit ció n the tax imposed by this Act, is
intended to monitor and check for responsible tax officials, sincerity
and accuracy of data and documents submitted by taxpayers to make
corresponding statement and verify compliance with the
tax obligations under the legislation governing the matter and
internal administrative instructions.
Article 47: In exercising its powers of tax officials may:
1. Require taxpayers filing of the declaration under
this Act and the payment of tax assessments, penalties and interest
vanquished.
2. Investigate the economic activities and the assets of
deceased and his heirs or legatees.
3. Examine the books, records, documents and records that record the
assets of the witnesses or the authenticity or value of the
assets and liabilities declared.
4. Quote contributors or third parties to answer interrogatories or
provide written information on specific subjects
the rights of the Treasury in relation to tax.
5. Ask public officials and other authorities of the Republic, the
states, municipalities, autonomous institutes and other
public corporations, the information and certifications necessary to
establish fiscal situation of taxpayers.
Rule 48: If the declaration omitting property, or charges were included
are unable to conclusively demonstrated, or where no deduction is authorized
by the Law or the Treasury did not agree with the appraisal that the respondents
have made consider the property for less than its cash value, or
considered that the debts or charges were deducted wholesale value at which
> really have, or if the determination and distribution of quotas had not been
wing under law or fact to the will of the deceased.
The Prosecutor shall make the repairs that will make it comprises records for
motivated, dated, signed and sealed to notify interested parties.
Article 49: When the heirs or legatees have not submitted the
declaration in time or the requirements presented desatendieren
office for payment to verify the declaration submitted, the Administration may
automatically proceed to estimate the amount of taxable income, based on
appropriate factors which possess or seek, and to issue the clearance
concerned.
Article 50: Each of the assets comprising the estate that will
affections to secure rights that apply to National Treasury under
this Act, including fines that may be applicable.
Article 51: The registrars, judges and notaries may not formally record, authenticate
or attest documents on which recognition as an heir or legatee
are transferring ownership or real rights constitute property received
by inheritance or bequest, without prior knowledge of the certificate of solvency to
referred to in Article 45 of the Act or wing specific permission from the Ministry of
Finance.
Article 52: The depositaries, holders and debtors assets or rights
belonging to people killed or reported missing or presumed
killed by accident, not pass or deliver such property or pay the
due without the prior knowledge of solvency certificate referred to in the
Article 45 wave express authorization of the Ministry of Finance.
Similarly values come from public institutions, trading companies
on securities, bonds or shares issued by them.
Article 53: The Minister of Finance and his staff delegation
may authorize the sale, the constitution of real rights or
taxes on buildings, furniture, claims or actions, and the withdrawal of
deposit money or securities in which they have belonged to the deceased before
having been paid the taxes imposed by this Law, upon request
stakeholder driven, and always are sufficiently guaranteed
the interests of the Treasury.
Article 54: If the provisions in contravention of the preceding articles,
are disposed of or encumbered by the heirs or legatees of movable or
property for which ownership is clearly labeled the deceased,
may proceed against any holder of such assets and priority to
any lien or privilege which was constituted after the death of
deceased.
Article 55: Before the end of the period set to make statement
Administration may practice test or inventory of property left by the
cause and ask the competent authorities the necessary measures to
secured for the Treasury.
Article 56: The Administration may try legal action necessary
in order to enter the inherited assets, assets which have been
alienated in fraud of the rights of the Treasury.
PART III
DONATIONS TAX
Article 57: is obliged to pay the tax for this bill to
inheritances and legacies, beneficiaries of grants that are made on
movable or immovable property, rights or shares in the territory
> national.
Article 58: The territoriality of donated goods is determined by the rules
established in Article 3 of this Law
Article 59: For the purposes of calculating the tax applies to the value of the property
donated, the progressive rate, as prescribed in Article 7 of this Law
Article 60: Donations of goods by the conjugal partnership shall be deemed
made by a single donor, for the purposes of calculating the tax. If among the
it exists and the donee spouse relationship is taken into account only the
closer.
Article 61: If multiple people are benefiting from a single donation,
progressive rate applies to each of them separately, as the amount
for him and the degree of kinship to them one with the donor.
Article 62: When one person is beneficiary within a period of
five (5) years, from various donations from the same donor, the
progressive rate provided for in Article 7 of this Law shall apply to those
donations cumulatively. If the donee has happened to the donor,
either as an heir, legatee is a title, donations received in the
five (5) years preceding the date of opening of succession will be taken into
account for setting the quota net taxable at the rate gradually but the
resulting tax will reduce the amount of what has already been paid by
concept of these donations.
Article 63: The donor and the donee are responsible for solidarity mind
tax on the donation.
Article 64: The gift tax is due from the time of
to the National Treasury expressed willingness to donate and be canceled before
the granting of any document which formalized or confer
authenticity wing donation. If the donation will be enhanced by withdrawal of
lack of acceptance donor or the donee, shall cease to be obligated to pay the
tax and may request reimbursement of the amounts that had been
paid.
Article 65: If the donation be made under a condition precedent or subsequent,
be regarded as straightforward for the purpose of determining the tax.
If the donation be left without effect the tax will be returned to the donor, unless
will hand it to a new beneficiary, in which case there will be a new
calculating the tax and reimburse or charge the additional amount.
Rule 66: Be exempt:
1. The local authorities.
2. The non-territorial public entities under Article 8, paragraph 3
of this Law
3. Donations of goods whose value does not exceed five units
tax (25 UT), but the exemption shall not apply after the
donations received by the taxpayer, from the same donor, in
a period of five (5) years, exceeding that amount.
4. The regular income constituted to meet pension obligations, and
food for the spouse not separated from property, or
legitimate descendants or ascendants, natural or adopted, when
these amounts are due in accordance with the Law
5. Savings funds set up in banks and other credit institutions
the benefit of smaller donor hi you up to a maximum of 250
tax units (250 UT) for each beneficiary.
6. Premiums paid on insurance contracts through endowment policies or
capitalization for the benefit of minor children of the donor, until a limit
produced by these policies.
Article 67 may be granted on the gift tax
exemptions provided for in paragraphs 1 and 2 of Article 9 “.
Article 68: In terms of gift tax will be applied
reductions provided in Article 11 of this Law
Article 69: In cases that are formed by an act between free
living rights of usufruct, use, room, bare ownership or periodical pension,
The value of these rights will be determined according to the rules established in
Articles 19,20,21 and 22 of this Law
Article 70: For the purposes of this Act shall be regarded as donations:
1. The greatest value by twenty percent (20%) or more be taken into the
market on the price quoted in the transmission, the asset disposed
between persons related by blood to the fourth of consanguinity or
second of affinity. To this end, the parties, whether individuals
physical, declared under oath before the officer authorized by the act if
or are not within the degrees of relationship
mentioned, which shall be mentioned in the note by the respective
award.
2. The total or partial remission of debts, except those agreed for
merchants in a state of backwardness or bankruptcy in accordance with
the provisions of the Commercial Code, and those made by the Nation,
States and municipalities in relation to fines and contributions
prosecutors and their accessories.
3. Waivers of rights or inheritance claims for other
people who might not have seen that have been made without the
benefit of other consideration given. Except for the waiver
made by an heir, his heirs benefit of all those
deferiría is part of the waiver.
Article 71: For the purposes of determining the tax, the donor
present at the time it manifests the willingness to donate a
affidavit with the specifications and formalities established by the
Regulation of this law and practice on the same form self-assess.
By order of the Ministry of Finance may order that any
grantees receiving pay in an office of national funds, the
taxes related to the liquidation under the heading of
this article, within the periods therein indicate.
Article 72: Are competent to review the self-assessment, practice
administrative settlement and to conduct audits, staff
Ministry of Finance, with jurisdiction over the place causing the
tax and other officials to whom this power is conferred
in the regulation of this Act or by resolution of the Ministry of Finance.
Article 73: In cases of sale, transfer, exchange or transfer of goods or
establishment of rights for a consideration, when strong evidence,
consistent and accurate it could be presumed to be a free,
be the ex officio tax officials estimate, that fact and arrange their
liquidation and the appropriate tax collection by the participants.
Are considered valid evidence to establish presumption referred
This article, which awarded compensation prices or not
equivalent to the actual value of the disposed assets or rights, which have
been paid by a third party having no interest in doing it right, do not
it has been paid or having been paid are returned they exist
> any way to reflect its simulation; 9uelos auditors in the
business are the spouses or is related by blood within the fourth
degree of consanguinity or second degree of affinity or by ties of adoption;
without prejudice to other special circumstances of the case.
Rule 74: When initially estimating attorney as provided in Article
earlier prior to the issuance of the liquidation of the objection form must
given opportunity for stakeholders to be heard and present evidence in
otherwise.
Article 75: In terms of gift tax govern
provisions contained in Chapters V, VI and VII of this Act,
as applicable.
PART IV
OF PROPERTY FROM THE REPUBLIC
Free transfer
Article 76: When a person dies without an heir apparent or
known or when they have renounced probate or intestate heirs,
inheritance is deemed lying and the Judge of First Instance
jurisdiction in the place of opening of succession, ex officio or upon request
any citizen, open the corresponding procedure and provide wing
Pos conservation and management of heritable property.
Article 77: The judge has opened the procedure will be yacencia
exclusive jurisdiction to hear claims against or in respect
inheritance may try alleged creditors or heirs of the deceased,
whatever the nature, cause or extent of such actions and
place in which it exercised.
The immunity provided in this article is of public order and its violation will be
grounds for invalidation of the trial that it has breached, following the
procedure for that purpose in the Code of Civil Procedure.
Article 78: The tax officials, all other authorities and
individuals are obliged to report in the shortest term
possible unclaimed estates of which have-news, directing a
writing to the judge of which expressed the name, date and place of
death of the deceased property and rights left by him, of which
are informed, and other circumstances they deem useful or
necessary to determine the status and situation of the estate.
Article 79: The judge in the next hearing of opened
procedure, notify the Attorney General’s Office and unity
Ministry of Finance of the town, sending them copies of everything
acted and asked the latter to appoint an official tax
intervene in the process.
The Personería the Treasury notified by means of procedural steps
their bodies, or at least, fifteen days after continuous
showing the receipt of notification office.
Article 80: The management and conservation of heritage assets are
made through a guardian appointed by the judge ex officio or upon request
interested party. If the deceased was foreign, prefer to
consular officer of the nation to which that person belongs to the
appointment of the curator. In this case, the judge shall call the consular officer to
express if you are willing to face up defense and administration of the
inheritance, and if accepted, it will fall to the appointment, unless the
Public Treaty concluded between the country it belongs to the deceased and the
Republic of Venezuela has provided otherwise.
> Rule 81: In any case, the curator must, before entering the exercise of
their duties, take an oath to faithfully fulfill them and provide surety
enough to the satisfaction of the court, judge, who prior to acceptance
shall hear the opinions of the Attorney General’s Office and the prosecutor
proved at trial. These officials should express their views within
of the five following hearings from the date showing the guarantee
offered, if there has been notification under Article 79. His
silence would amount to compliance on their part.
Article 82: The judge shall be liable for damages occurring to
stakeholders or the National Treasury, if the bond he has not accepted
been sufficient to cover the result of the curatorship.
Article 83: The curator is obliged to do the inventory form
assets, rights and liabilities which constitute the assets and liabilities of the estate,
custodiaría and to manage, to deposit sums of money and securities to
carrier forming part of a banking institute, to assert and
exercise their rights and representation, all with the diligence of a good father
family, and finally to report on his administration. According to
the result of the inventory, the court may require its own motion or motion of the
tax representation to increase the amount of bail by the curator.
Article 84: While the legacy we were under curatorship, Attorney
General’s Office and the attorney appointed by the Ministry of Finance
entitled to intervene in all stages of the proceedings in protection
and safeguarding the interests of the National Treasury, for which they can
oppose or object to any measure or action that are required in the
procedure, once agreed shall exercise all actions and pro
give them resources against the law. To this end, they both other
must be notified of any motion or action which disposal or wrap
disposition of assets of the estate, from any action or claim that it is
and generally relate to everything that directly or indirectly to
affect the amount of the estate. In the absence of express provisions of the Act
its intervention should occur within three hearings after
those setting forth the notification. After that ended his silence
equivalent to lack of objection and the judge may decide to view the file.
Article 85: The judge may authorize the conservator, upon reasoned request of
this, to dispose of any movable or immovable property of the estate, when
finds that there is serious risk of loss, damage or devaluation. The
proceeds from the sale of such property shall be placed in an institute
banking as provided in Article 83. Also, authorize the
taxation of such property where it is essential for the conservation and
administration of the estate.
Article 86: The money from the inheritance that the curator is required to deposit
in a banking institution may not be withdrawn and invested at all in
but never authorized by the judge, who granted only in the
case in which the curator reliably verify the need and usefulness of
the operation.
Article 87: After it has entered the curator in exercising its
functions, the judge shall summon by edict, to be published twice,
intervals of eight (8) consecutive days in one of the largest newspapers
> circulation in the jurisdiction of the Court, to everyone who considers himself to
right to inheritance, to appear to deduct within
one year of the last publication. In the decree shall identify the curator
designee.
Article 88: They may only claim their right as heirs in the
Who checks yacencia procedure through document
true affiliation or degree of relationship to the deceased, or were
instituted heirs or legatees by testamentary disposition made
under the Civil Code.
The procedure will not be accepted yacencia Stocks
aimed at substantiating vocation or inherited by descent and kinship
deducted trials may not be added to the yacencia or paralyze or
stay its course.
Article 89: Those who intend rights as heirs of the deceased
shall deduct a letter submitted to the court reasoned that the
same requirements of the libel lawsuit, accompanying documents
that grounds its action, or indicating the place where they are collating. Declared
practiced the application and notification under Article 79 of this Law,
opens a joint evidentiary hearings twenty for the
applicant and other parties to the proceedings established to promote and
do evacuate all tests deem appropriate. Into
that period the parties may request that it be extended for up to ten
audiences to complete the evacuation of a test
promoted.
PART V
CRIMINAL PROVISIONS REGARDING
Inheritance and Gift
Article 90: Derogation.
Article 91: Derogation.
Article 92: Any contravention of the provisions of Article 51 of this Law by
part of the officials referred to in that Article, shall be punished by
fine of one (1) to ten (10) tax units.
Article 93: Derogation.
Article 94: Officials who do not meet the obligations to which
contracts Article 45 of this Law shall be punished by a fine of half (0.50)
one (1) tax unit.
Article 95: Without prejudice to the responsibilities they incur the
judges and curators, shall be punished by a fine of one (1) to two (2) units
tax by the contravening the provisions of section 84.
Article 96: Derogation.
Article 97: Derogation.
PART VI
TRANSITIONAL AND FINAL PROVISIONS
Article 98: Until the entry into force of the Organic Tax Code, governing
the statute of limitations provided in Tax Law
Successions, Donations and other related areas from 26 December
1966.
Article 99: When all or part of the estate this
consists of art objects or valuable collections executive to trial
Nacional, the heirs may wholly or partially extinguishing the obligation
tax, with all or some of those art objects or collections
valuable pre-appraisal made by ad hoc experts nominated by the Executive
National.
Article 100: Repealed.
Article 101: Goods received by the Nation in accordance with the
Articles 899 and 900 of the Civil Code or any other
concept related to this Act shall be received by. the official
jurisdiction of the Ministry of Finance, after inventory and appraisal to be made,
> according to the keeper when the paving to deliver. This inventory and
appraisal must be approved by the Ministry of Finance to have
legal value.
Article 102: The requirements which have begun to run before
effectiveness of this Act shall be governed by the laws under whose empire begun,
but since this Act are in force, all the time transcurriere
that required for prescriptions, these will take effect even by those
laws requiring more time.
Interruptions of these prescriptions, which are manufactured from the
effectiveness of this Act shall take effect in accordance with the rules therein
established.
Article 103: The proceedings initiated prior to entry into
effectiveness of this Act shall be processed in accordance with standards established
in the Inheritance Tax Act, donations and other Ramos
Related, dated 26 December 1966.
Article 104: Law is reformed Inheritance Tax
Donations and other related areas published in the Official Gazette of the
Republic of Venezuela No. 3007 Extraordinary dated 31 August
1982.
Done at London, after five days of October, nineteen hundred
ninety-nine. 189th Year of Independence and 140 ° of the Federation.
(LS)
HUGO CHAVEZ FRIAS
Countersigned,
The Minister of Interior and Justice, IGNACIO ARCAYA
Foreign Minister Jose Vicente Rangel
The Minister of Finance, JOSE A. ROJAS RAMIREZ
The Minister of Defense Raul Salazar Rodriguez
The Charge of the Ministry of Production and Trade, ORLANDO NAVAS
OJEDA
The Minister of Education Culture and Sports, HECTOR NAVARRO DIAZ
E1 Social Development Minister of Health, GILBERTO RODRIGUEZ OCHOA
The Minister of Labor, LINO ANTONIO MARTINEZ SALAZAR
The Minister for Infrastructure, AUGUSTO JULIO MONTES PRADO
The Charge of the Ministry of Energy and Mines, Ali Rodriguez Araque
Approached from the Ministry of Environment and Natural Resources, JESUS
ARNALDO PEREZ
The Minister of Planning and Development Jorge Giordani
Science Technology Minister Carlos Genatios SEQUERA
The Minister of the Secretariat of the Presidency, Francisco Rangel Gomez