On 11 September 2015, Venezuela published Resolution SNAT/2015/0021 in the Official Gazette. The resolution regulates the change included in the tax reform published November 2014 ({News-2015-12-09/A/2- previous coverage}) that inflation adjustment requirements will no longer apply for banks, financial institutions, and insurance and reinsurance companies. In addition, previous losses resulting from inflation adjustment may not be carried forward.