Venezuela Tax Tables 2024 - Tax Rates and Thresholds in Venezuela
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This page contains the tax table information used for the calculation of tax and payroll deductions in Venezuela in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ VE, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Venezuela or would like to add to or suggest amendments to the information herein then please contact us.
2024 Tax Tables [Quick Links]
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Venezuela Personal Income Tax Tables in 2024
The Income tax rates and personal allowances in Venezuela are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Venezuela Tax Calculator 2024.
Venezuela Residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)| Tax Rate | Taxable Income Threshold |
|---|
| 6% | Income from Bs 0.000.00 | to | Bs 9,000,000.00 |
| 9% | Income from Bs 9,000,000.01 | to | Bs 13,500,000.00 |
| 12% | Income from Bs 13,500,000.01 | to | Bs 18,000,000.00 |
| 16% | Income from Bs 18,000,000.01 | to | Bs 22,500,000.00 |
| 20% | Income from Bs 22,500,000.01 | to | Bs 27,000,000.00 |
| 24% | Income from Bs 27,000,000.01 | to | Bs 36,000,000.00 |
| 29% | Income from Bs 36,000,000.01 | to | Bs 54,000,000.00 |
| 34% | Income from Bs 54,000,000.01 | | and above |
Venezuela Non-residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)| Tax Rate | Taxable Income Threshold |
|---|
| 6% | Income from Bs 0.000.00 | to | Bs 9,000,000.00 |
| 9% | Income from Bs 9,000,000.01 | to | Bs 13,500,000.00 |
| 12% | Income from Bs 13,500,000.01 | to | Bs 18,000,000.00 |
| 16% | Income from Bs 18,000,000.01 | to | Bs 22,500,000.00 |
| 20% | Income from Bs 22,500,000.01 | to | Bs 27,000,000.00 |
| 24% | Income from Bs 27,000,000.01 | to | Bs 36,000,000.00 |
| 29% | Income from Bs 36,000,000.01 | to | Bs 54,000,000.00 |
| 34% | Income from Bs 54,000,000.01 | | and above |
Venezuela Social Security and Payroll Deduction Rates in 2024
In Venezuela, social security and payroll deductions play a crucial role in ensuring the welfare of employees and their families. The system is designed to provide protection against the economic risks of old age, disability, illness, and unemployment, among other contingencies. Both employees and employers contribute to various funds, each aimed at supporting different aspects of social welfare.
Venezuela Social Security in 2024: Rates for Employers and Employees| Category | Employee | Employer | Total |
|---|
| Social Security | 4% | 11% | 15% |
| Employment Benefit Regime Contribution | 0.5% | 2% | 2.5% |
| Housing Regime Contribution | 1% | 2% | 3% |
| Employee Training Contribution (INCES) | 0.5% | 2% | 2.5% |
| Workplace Prevention, Conditions, and Environment Contribution (LOPCYMAT) | 0% | 10% | 10% |
Venezuela Social Security and Payroll Deduction in 2024: Earnings Thresholds for Employers and Employees| Category | Employee | Employer |
|---|
| Min. | Max. | Min. | Max. |
|---|
| Social Security | n/a | Bs 650,000.00 | n/a | Bs 650,000.00 |
| Employment Benefit Regime Contribution | n/a | Bs 650,000.00 | n/a | Bs 650,000.00 |
| Housing Regime Contribution | n/a | n/a | n/a | n/a |
| Employee Training Contribution (INCES) | n/a | n/a | n/a | n/a |
| Workplace Prevention, Conditions, and Environment Contribution (LOPCYMAT) | n/a | n/a | n/a | n/a |
Retirement and Pension Contributions
One of the cornerstone elements of the Venezuelan social security system is the retirement and pension scheme. Contributions made by both employees and employers fund retirement benefits, providing financial security to individuals in their old age. This system is designed to ensure a stable income for retirees, reflecting the country's commitment to supporting its citizens throughout their lifecycle.
Healthcare and Maternity Benefits
Contributions to healthcare and maternity benefits ensure access to medical services and support during pregnancy and childbirth. This aspect of social security covers medical expenses, hospitalization, and other healthcare services, aiming to promote the health and well-being of the workforce and their dependents.
Employment Injury and Occupational Hazards
Employment injury and occupational hazard contributions protect workers against injuries and diseases arising from their employment. This coverage includes medical treatment, rehabilitation, and disability benefits, ensuring that employees are supported in case of work-related accidents or conditions.
Unemployment Insurance
Unemployment insurance provides temporary financial assistance to individuals who have lost their jobs, helping them to manage their expenses while they seek new employment. This component of social security aims to mitigate the impact of unemployment and maintain economic stability for affected workers.
Family Allowance
The family allowance program supports employees with dependent children, offering additional financial assistance to help cover education, healthcare, and living expenses. This benefit reflects the importance of family welfare in the Venezuelan social security system, promoting the well-being of children and supporting parents in their caregiving roles.
Housing and Social Welfare Contributions
Housing and social welfare contributions aim to improve living conditions and provide social assistance to those in need. These funds support housing programs, social services, and poverty alleviation initiatives, contributing to the overall development and welfare of the Venezuelan population.
The social security and payroll deduction system in Venezuela embodies the country's dedication to social welfare and economic security for its citizens. Through a comprehensive network of benefits and programs, it seeks to protect individuals and families against life's uncertainties, fostering a supportive and resilient society.
Venezuela VAT Rates in 2024
VAT rates for Venezuela are reviewed annually, you can use the VAT Calculator to calculate VAT due in Venezuela or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.
Venezuela VAT Rates| VAT Rate | VAT Description |
|---|
| 0% | VAT Exempt |
| 0% | Zero Rated |
| 8% | Reduced Rate |
| 16% | Standard Rate |
Historic Tax Tables supported for Venezuela
The following tax tables are supported by iCalculator™ VE as part of the suite of free tax tools we provide for Venezuela.