VENEZUELA: Incentives come to an end
Venezuelans will have to start paying more for their cars when a government incentive programme comes to an end in June.
Under the Venezula Movil programme, buyers of new cars were exempt from the 9% value-added tax applied to cars.
The programme was agreed between the government and the automotive industry but, according to AutoData, they believe the tax exemption is no longer necessary now a new automotive policy is in place.
The programme was introduced when value-added tax had reached a peak of 16%.