As previously reported, Venezuela announced a number of tax measures in August that generally apply from September 2018, including an increase in the standard value added tax (VAT) rate from 12% to 16%, effective from 1 September 2018 through 2019, and the amendment of the tax on large financial transactions to provide for a rate of 0% to 2%, which has been set at 1% from September 2018. Other important changes include the introduction of advance tax return and payment requirements for specia…