Customers spending foreign currency and crypto cassettes in Venezuelan stores have been warned to ask for bills and receipts in fiat bolivars. The country’s tax authorities feared that crypto payments and payments in overseas fats like the USD or the euro could facilitate tax evasion.
Traders across the country have increasingly chosen to ditch the sovereign bolivar, which has seen soaring inflation as the country’s economy continues to suffer following the tightening of Washington-led sanctions and the ongoing coronavirus pandemic.
But Jose David Cabello Rondon, the superintendent of the National Integrated Tax and Customs Administration (known locally as SENIAT) has reached out to Twitter to remind customers that failing to request invoices or receipts from bolivars could help encourage tax evasion efforts by unscrupulous traders. The agency believes many merchants are taking advantage of the legality of crypto pay and foreign currency pay programs to keep transactions off their books.
“Request a statutory bill in Bolivars for every purchase you make, even if you are paying in foreign currency or cryptoassets.”
He also posted a picture entitled:
“Don’t collaborate [tax] Runaway! Request a receipt! “
And Cabello added in a separate Tweetthat on-the-spot inspections have been carried out, in some cases undercover agents, to ensure that the sellers are making legal receipts for sales and are not shirking their obligation to make “social investments” to improve the country.
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