Agricultural companies and compliance with formal duties.

in DClub8 months ago

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The formal duties of the organizations have great incidence and integrate the economy of a country and this falls on the financial activities depending on the design of monetary, fiscal, exchange and external policies, among others. According to Escalante (2009), these are the obligations that the Law or regulatory provisions and even the tax enforcement authorities, by delegation of the Law, impose on taxpayers, responsible parties or third parties to collaborate with the administration in the performance of its duties.

The mismanagement of these elements has generated in some countries the existence of an economic imbalance that originates a high degree of generalized poverty, preceded by social, business and governmental corruption. The Venezuelan State faces great instability due to successive changes referred to economic policies that have not been consolidated, in turn, adopted and intensified measures to protect the economy.

¿What does Article 133 establish?

"Every person has the duty to contribute to public expenses through the payment of taxes, fees and contributions established by law".

This implies that taxpayers will be obliged to cooperate with the state through the payment of taxes established in various special and tax laws

¿What does Article 155 of the COI?

”It establishes the formal duties that taxpayers, responsible parties and third parties are obliged to comply with all these related to the tasks of inspection and investigation carried out by the Tax Administration".

That is why the producers of the Venezuelan countryside cannot remain static in front of all the legislation that the country presents, therefore the imperative need arises that there are businessmen who know directly or through their advisors, the benefits, disadvantages and sanctions that any law that governs their commercial activity entails.

All this situation has inevitably pushed Venezuelan businessmen to adjust themselves within this regulatory framework, and to include all the new regulations in their fiscal and financial planning, clearly understanding that the prescription and establishment of such duties are the best way to achieve their objectives. Failure to comply with the provisions of the exoneration and to submit the required commercial documentation will result in the company having to pay the income tax and it will not be able to rely on the exoneration thereof.


- Organic Tax Code. (2014). According to Official Gazette 6152, Decree 1434 of November 18, 2014. Caracas

- Escalante D Petro; Hultt R Neyi, (2009) Deberes Formales a Cumplir las Personas Naturales.

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