🎰 Nonprofit Law in Venezuela | Council on Foundations

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Under the regulation, two types of organizations qualify for income tax exemption: charitable institutions and social assistance institutions. The law prohibits any organization with political aims or any organization that protects political rights from receiving any kind of foreign funding or economic aid, be it from a natural foreign citizen or a foreign organization. Article 21 of the Venezuelan Constitution prohibits discrimination based on—among other things—race, sex, creed, or social condition. There is no specific exemption from the VAT for non-profit organizations, but certain goods and services are exempt. Corporations and individuals may deduct certain contributions to foundations and associations pursuing publicly beneficial purposes. As a legal matter, Venezuelan NPOs are permitted to promote legislation and support candidates, except during voting periods, when all political campaigning is prohibited. Organizations registered as exempt from income tax are precluded from making distributions or providing benefits, directly or through third parties, to founders, associates, or members LISR Article 14 3. Other non-profit legal forms, such as religious congregations and political parties, are outside the scope of this Note due to their limited interaction with foreign grantmakers. The Civil Code is silent with respect to unjust enrichment and use of association or foundation assets for personal ends. Also exempt from the VAT are transfers of certain goods, including: medicines, wheelchairs, catheters, valves, artificial organs and prostheses, books, pamphlets, and magazines LIVA Article Under the Ley para Personas con Incapacidad Law for Persons with Disability , certain imports by organizations serving the disabled are exempt from custom duties if they meet particular requirements. They may also undertake advocacy activities on behalf of or to support their target populations and to protect their respective organization or collective interests. For food and medicine, the official exchange rate is VEF As of December , the Foreign Investment Agency had not yet been created. The LISR and its regulations set forth the requirements for qualifying and registering for the exemption, which is granted by the Tax Administration. These are not distinct types of legal entities, but rather special designations conferred on eligible associations and foundations. The chairman of an organization—in his or her individual capacity—found to be in violation of the law also can face a fine as well as individual exclusion from participation in the political process. Dollars must be exchanged and declared to the central Bank of Venezuela or any other entity delegated by the law. The following section discusses relevant tax legislation, recognizing that taxes may affect the amount of the grant actually flowing to the grantee. A donor can also transfer ownership of property to the organization and retain, for him or herself or for specified others, the right to use the property. Venezuela is a civil law country with two traditional forms of non-governmental, not-for-profit organizations NPOs :. Upon the dissolution of an association, its assets are distributed according to its governing documents. The Organic Law on Drugs, enacted on September 15, , stipulates that donations by natural or legal persons to drug prevention programs and projects can be deductible, with preference to those programs aimed at the protection of children and adolescents. The amount of the deduction is limited to: 10 percent, when the net income of the donor does not exceed 10, tributary units in , one tributary unit was equivalent to VEF , or about USD 0.{/INSERTKEYS}{/PARAGRAPH} Upon dissolution, the assets of a foundation are typically distributed according to the organization's governing documents. For example, goods donated from abroad to NPOs and to universities for the accomplishment of their goals may be exempt upon approval of the Tax Administration. Skip to main content. Current as of October Download print version in PDF This report describes the legal framework governing nonprofit organizations also known as non-governmental organizations or NGOs in Venezuela, and includes translations of legislative provisions relevant for a foundation or advisor undertaking an equivalency determination of a foreign grantee under IRS Revenue Procedure We include hyperlinks to the following information, to the extent available: Longer country reports analyzing various aspects of local legislation; and Texts of local laws that affect the decision whether or not to qualify a grantee generally in translation, although ICNL and the Council cannot warrant the accuracy of any translation; in addition, legislative excerpts were selected by in-country contacts, and ICNL and the Council cannot warrant that all relevant provisions have been translated. In addition, the Tax Administration implicitly recognizes that particular organizations engage in public benefit activities by granting them tax exemptions under the Income Tax Law and its accompanying regulation LISR Article 14 3. These comprise: Charitable activities providing medical or educational services; providing food, clothing, or shelter to the destitute; or providing funds for those purposes ; or Social assistance activities preventing or reducing sickness, misery, vice, or other social ills, or providing funds for these purposes ; or Activities in one of the following areas: religious, artistic, scientific, conservation, environmental, technological, cultural, sports, professional, or unions guilds. Organizations with special designated agent status should consult with a local attorney to ensure compliance with these rules. {PARAGRAPH}{INSERTKEYS}This report describes the legal framework governing nonprofit organizations also known as non-governmental organizations or NGOs in Venezuela, and includes translations of legislative provisions relevant for a foundation or advisor undertaking an equivalency determination of a foreign grantee under IRS Revenue Procedure Please direct corrections and comments to Lily Liu. Contributions can be made via cash donations to beneficiaries such as the Science, Technology, and Innovation Ministry; state-funded or private universities and other academic institutions; research and development centers, laboratories, or scientific societies; or by investing in a company's own science, technology, or innovation activities. However, this too is a general rule and not a formal requirement Civil Code Article Associations, once registered, are legal persons. An association's documents will often require the distribution of any remaining assets to another NPO—either an organization to be determined by the General Assembly or one indicated in the statutes themselves. In addition, donations to a branch of government national, state, municipality, or official autonomous institute are deductible LISR Article 27 paragraph Under the Law for the Protection of Children and Adolescents LOPNA , donors who contribute to programs or entities for the protection of children or adolescents can deduct the amount of those donations up to double the percentages listed above; when the donation is made to the Foundation for the Protection of Children and Adolescents, the percentages are tripled LOPNA Article For all of the foregoing deductible donations, the deduction can be taken only if the donee is domiciled in Venezuela, and cannot be taken if the donor suffered losses in the immediately preceding fiscal year LISR Article The Executive Branch is authorized to exempt NPOs from paying the tax on inheritance and donations if they dedicate themselves principally to charitable activities, social assistance, social protection, or the funding of such activities; religious centers accessible to the public; or scientific, educational, artistic, cultural, sports, or recreational activities, or activities of a similar nature Law on Inheritance and Donations; Decree of To take advantage of the exemption, organizations must report each inheritance or donation to the Tax Administration within 30 days Decree of If a donation is not exempt, the donor and donee are jointly liable for payment of the tax. As such, NPOs are treated as institutions susceptible to becoming instruments for money laundering and other organized crime activities. NPOs are therefore subject to scrutiny and surveillance by the executive entity in charge of the fight against organized crime, and their activities could be criminalized. This provision applies to all levels of education in Venezuela, from preschool through university. Organizations that do not comply with this law will face a fine up to double the funding amount received, and, where there are repeat violations, organizations can be prohibited from participating in the electoral process for a period of five to eight years. TAX LAWS The following section discusses relevant tax legislation, recognizing that taxes may affect the amount of the grant actually flowing to the grantee. Although the Civil Code is silent on the matter, local experts state that Venezuelan jurisprudence requires NPOs to pursue economic activities only as a means of advancing their non-profit goals, self-sustainability, and financial autonomy. Under Article 14 3 of the Income Tax Law LISR , charitable and social assistance organizations as defined in the Income Tax regulation are eligible for exemption from payment of income tax if they meet the following requirements:. In the absence of any provision in the governing documents, the court overseeing the dissolution will generally distribute the assets to another NPO with a similar purpose, so long as that purpose has not become unlawful or impossible to fulfill. To be eligible for a tax exemption, an organization must also comply with certain requirements regarding their financial operations and other matters see Section V. This law also establishes the obligation of all private legal persons, consortia, or public entities with for—profit purposes that have 50 employees or more, to contribute 1 percent of their earnings to the National Anti-Drug Fund, which will, in turn, direct these contributions to programs for the prevention of drug consumption and trafficking. These comprise:. As with any natural or legal person, an NPO may carry out any type of lawful economic activity. As of November , Venezuela has two official exchange rates. Charitable and social assistance organizations are not distinct types of legal entities, but rather special designations conferred on eligible associations and foundations. NPOs receive significant incentives and fiscal benefits in Venezuela. Therefore, it is possible that a Venezuelan NPO may be controlled by a for-profit entity or by an American grantor charity which requires that the charity specifically so provide in the affidavit. Venezuelan charities may be established by natural or legal persons, domestic or foreign. In addition, Article 6 of the Organic Law of Education provides that all persons have the right to an education without discrimination on the basis of race, sex, creed, economic and social position, or otherwise. Under the law, every "large corporation" has a duty to make an annual contribution of up to 2 percent of its gross income to an activity in the fields of science, technology, or innovation. A "large corporation" is defined as any legal person that has an annual gross income of more than , "tributary units. They may also face more severe sanctions, such as four to six years of imprisonment for failure to pay a withholding tax. It can buy, sell, and mortgage property, real and personal; make domestic or foreign investments; and buy shares in companies and receive dividends. Venezuela has an exchange control regime. Products eligible for exemption are: medicines, technical assistance, equipment, specialized materials, and any other technological resources or other useful and necessary resources for the personal, family-related, or social integration of the disabled Law for Persons with Disability, Article Special Designated Agents are subject to additional obligations, such as abiding by a special taxpayer calendar and keeping track of withholdings made to third parties and clients. In this way, a donor can retain ownership of property while allowing the organization to use it Civil Code Article et seq. Foundations, by contrast, may only engage in activities that contribute to public benefit objectives in the artistic, scientific, literary, charitable, and social areas. In order to gain tax-exempt status, however, an organization must engage in particular activities. Under the LISR, corporate and individual taxpayers can deduct donations to civil associations and foundations that pursue non-profit purposes and that dedicate the donations to one or more of the following purposes:. Deductibility will depend on the type of contribution made: if the contribution is made in cash to any of the above-mentioned beneficiaries, it will be deducted as a paid tax LISLR Article 27 ; if the contribution is made via an investment in the company itself, it will be deducted as an expense. Certain foundations and associations are also eligible for exemption from paying taxes on inheritance and donations. Marcos R. The Note also excludes cooperatives and community councils. Although associations and foundations are not exempt from the Value Added Tax VAT per se , some services and transfers of certain goods are exempt.