On Wednesday, April 20, 2022, Official Gazette No. 42,359 published the Administrative Provision through which the value of the Tax Unit (Unidad Tributaria) was adjusted, increasing from zero point zero two bolivars (Bs. 0.02) to zero point forty bolivars (Bs. 0.40).

Regarding the aforementioned Provision SNAT/2022/000023, the following points are of particular importance:

• Exclusive Use: The value of the Tax Unit may only be used as a unit of measurement for the determination of National Taxes whose collection and control fall under the jurisdiction of the National Integrated Service of Customs and Tax Administration (SENIAT).
• Annual Tax Periods: For processes where taxes are settled over annual periods, the applicable Tax Unit shall be the one in effect at the close of the relevant fiscal year.
• Other Tax Periods: For taxes settled over periods other than annual ones, the applicable Tax Unit shall be the one in effect at the start of said period.

This Administrative Provision repeals SNAT/2021/000023, dated April 6, 2021, which was published in the Bolivarian Official Gazette No. 42,100 on that same date.