Publication
CFPB takes steps to regulate “Buy Now, Pay Later” providers
On May 22, 2024, the CFPB issued an interpretive rule that imposes some of the same rules on BNPL providers that apply to conventional credit card providers.
Global | Publication | September 2018
On August 17, 2018, the president of the Republic issued Decree No 3.584 (the Decree) through which the value added tax (VAT) was set at 16 per cent. This Decree was published in the Official Gazette of the Bolivarian Republic of Venezuela, Special Issue No 6.396, dated August 21, 2018.
The VAT general rate of 16 per cent represents an increase of four percentage points compared to the previous rate, which was set at 12 per cent in accordance with the provisions of article 62 of the VAT Law.1
Article 27 of the VAT Law authorizes the National Executive Government to revise the general rate between 8 per cent and 16.5 per cent.
Article 3 of the Decree set the effective date for September 1, 2018; therefore VAT taxpayers must apply the new rate of 16 per cent for their operations levied from that date on.
Law establishing Value Added Tax, published in Official Gazette No 6.152 Special, dated November 18, 2014.
Publication
On May 22, 2024, the CFPB issued an interpretive rule that imposes some of the same rules on BNPL providers that apply to conventional credit card providers.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023