The two decrees for the increase in Venezuela's tax unit (unidad tributaria) value and the minimum monthly salary were published in Official Gazette No. 41.387 on 30 April 2018 ({News-2018-05-03/A/3-previous coverage}).
The first decree, Decree No. 3.392, provides that the minimum monthly salary is increased VEF 1 million effective from 15 April 2018. The second decree, Decree No. 3.393, provides that the tax unit value is increased from VEF 500 to VEF 850 effective from 1 May 2018. Decre…