Venezuela’s imports of US food and farming products are on the rise, with the private sector driving increased business between the two former partners despite punishing sanctions imposed on Caracas by Washington. By Esteban Rojas. Full Text -> Manila Standard

Traducción de cortesía -> Las importaciones de Venezuela de alimentos y productos agrícolas de EE. UU. están en aumento, y el sector privado impulsa el aumento de los negocios entre los dos ex socios a pesar de las sanciones impuestas a Caracas por Washington.

The Venezuelan Official Gazette June 1 published Decree No. 4,619, establishing VAT and excise tax regimes on imports of personal property, goods, and services. The decree includes measures: 1) exempting until Aug. 31 VAT and excise tax payments on tangible personal property imports; 2) exempting VAT payments on imports of personal property, and data processing and telecommunication assets; 3) applying an ad valorem tax rate of between zero and 2 percent on imports of personal property, and data processing and telecommunication assets; and 4) requiring importers to submit their declarations to the tax authority to take the tax benefits. Full Text -> BloombergTax

The government reported that foreign exchange earnings were just 55% of planned levels last year, while imports fell between 30% and 40%. It did not provide further details. China is one of Cuba’s top three trading partners, along with Venezuela and Spain. Venezuela’s trade with Cuba has declined in recent years, though no data for 2020 is available, while Spain’s had risen through 2018 and then leveled off. By Marc Frank. Full Text -> Reuters