Increase in Official Fees for Intellectual Property Services in Venezuela

Author:Clarke, Modet & Co
Profession:Clarke, Modet & Co

The Venezuelan Government announced the increase of the Tax Unit in 69,5%, effective on March 1st., 2017.

The new Tax Unit increases as well the Official Fees for Intellectual Property Rights for foreign owners in the same percentage, as follows:

Official Fees to be paid in US Dollars to the Venezuelan PTO are based on an official exchange rate of 1,00 USD / 10,00 VEB.

Important Note: a possible devaluation of the Venezuelan currency could reduce proportionally the Official Fees.

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