I really hope that this will encourage airlines to renew their fleets. Venezuelan airlines have old fleets, mainly DC9s, 732, 722 and DC10s.
They exonerate of payment of taxes to companies of Civil Aeronautics By a lapse of five years the air lines will enjoy of the exoneration the Tax on the Rent on 75% of the investment that makes for the benefit of this aeronautical service, according to establishes it just approved Law of Civil Aeronautics.
It explains the new legislation that passed that period the president of the Republic has the power, in cabinet, of being able to grant total or partial exonerations of tributes for the imports that are made within the framework of this activity.
In tributary matter also one settles down that from the entrance in use of the Law and by a period of five years, the public benefit on watch of national aerial transport of passengers will be free of payment of tributes by enterprise assets, tangible and intangible, product of his activities, as well as in the definitive import of airships, motors, accessories, parts, spare parts that are indispensable for the national aeronautics.
The norm will be applicable to all civil airship that is in the Venezuelan territory or flies in its airspace; her fleeting crew and effects transported in her, as well as to the cause that happen on board of Venezuelan civil airships when they fly outside the airspace of the Republic, express a bulletin of press emitted by the National Assembly.
Also she will be applied to the committed facts on board of civil airships nobodies is his nationality when it happens in the foreign airspace and produce effect in the Venezuelan territory, in addition to facts happened in foreign civil airships that fly Venezuelan airspace.