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On 29 May 2023, the National Executive Power sent the Liquefied Natural Gas Promotion Bill to the Honorable Chamber of Deputies of the Nation. The Bill, while still a draft, creates a Promotional Regime for Large Liquefied Natural Gas Investment Projects for the production, storage, commercialization, transportation and infrastructure of LNG and/or its export, through the granting of tax, customs and exchange control benefits.

The National Executive of Venezuela issued Decree No. 4,821 on 1 July 2023, exempting definitive imports of tangible personal property from Value Added Tax (VAT) and import tax.
The Decree establishes that the periodic evaluation of VAT exemptions will be carried out in accordance with the determinations of the National Integrated Customs and Tax Administration Service (SENIAT) and the Ministry with competence in Economy, Finance and Foreign Trade, which are the competent authorities in charge of implementing the Decree’s provisions.

On 24 July 2023, Decree No. 377/2023 was published in the Official Gazette. By means of the Decree, tax shall apply (i) at the rate of 25% on the acquisition of foreign currency for payments to be made for any type of service provided from abroad, with certain exceptions; (ii) at the rate of 7.5% on the acquisition of foreign currency for payments to be made for freight services and other transport services for import or export operations of goods; and (iii) at the rate of 7.5% on the acquisition of foreign currency for payments to be made for the import of goods (with certain exceptions).

On 13 July 2023, Resolution No. 90/2023 of the National Mining Secretariat was published, establishing the updated mining fee that considers the consumer price index published by the National Institute of Statistics and Census. The update will be carried out in December of each year and will be applicable to the value of the mining canon in the following year.

The United States tax treaty with Chile has finally been approved by the Senate, over a decade after its original signature on 4 February 2010.
On 22 June 2023, the Senate voted 95-2 to pass the resolution of advice and consent to ratification of the Convention Between the Government of the United States of America and the Government of the Republic of Chile for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and Capital. The treaty now heads to the President for official ratification.

On 28 May 2023, Legislative Decree No. 1570, which approves the Law of Integral Management of Chemical Substances, was published, with the aim of protecting human health and the environment from the hazards and risks associated with the use of hazardous chemical substances. The law will become effective as of the day following the publication of its regulations, which must be approved by MINAM within a period of no more than one year.

On 7 July 2023, the Substitutive Amendment to Bill No. 2,384/2023 was approved, with the purpose of disciplining the proclamation of judgment results in the event of a tie vote within the scope of the Administrative Council of Tax Appeals (CARF), among other measures connected to tax litigation and the transaction in the collection of credits by the Federal Treasury.

On 6 July 2023, the Brazilian National Data Protection Authority (ANPD) issued its first sanction for non-compliance with the Brazilian General Data Protection Law (LGPD). The ANPD’s General Supervision Coordination determined the penalties in conclusion to the administrative sanctioning process against a small business entity, due to violation of articles 7 and 41 of the LGPD, and article 5 of Resolution CD/ANPD No. 1/2021.