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Venezuela Increases Minimum Monthly Salary

|Approved Changes|Venezuela
Venezuela

Venezuela has announced that an executive decree was published in the Official Gazette on 27 April 2020 that provides for an increase in the minimum monthly salary from VES 250,000 to VES 400,000 with effect from 1 May 2020. The increase impacts the basis cap for social security contributions, unemployment insurance, and other benefits.

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