According to recent reports, Venezuela has provided an increased payment and threshold for individual income tax payments for Venezuelan source income of tax resident individuals. The increased threshold was provided by Decree No. 4,420 of 18 January 2021 in response to COVID-19 and includes that no income tax payment is required for individuals with Venezuelan source income not exceeding 5,000 tax units in 2020. To be eligible for this benefit, individuals must be in compliance with their ta…