An Irrelevant, Pernicious Economic Package for Venezuela

However, the matter that legislates most of the 16 decree-laws is not aimed at eliminating the rampant corruption in the Government or the distortions in the foreign exchange rate, or lowering the inflation rate, or helping with the shortages situation and the collapse of the productive sector, factors that have caused the serious economic and social crisis suffered by Venezuelans, and supposedly to be tackled by the Enabling Law granted to Maduro in 2013. Among the many inconceivable things surrounding this delegation of legislative powers are a series of tax laws that will end up stifling businesses (large, medium and small-sized) and drive away the investment capital required by the nation. The government of Maduro, as a result of 15 years of failed and backward policies, ones that go against productivity, production and competitiveness to bring development and progress, today rather than alleviating the tax burden and bolster investment, what has done is give greater tax weight and an extra set of tight controls to businesses. More…