The Bolivarian Council of Mayors of Venezuela has signed the so-called “National Tax Harmonization Agreement” of the country’s 305 municipalities, including Petro (PTR) as a means of collecting tax payments and penalties.
Cryptocurrency is used more often due to a new campaign.
According to the government, Venezuela’s Vice President, Delsey Rodriguez, will be responsible for implementing a single registry of taxpayers through a digital advisory tool.
It will also be responsible for creating an information exchange and monitoring system that companies can use to record payments in the country’s cryptocurrency.
Venezuela has 335 mayors, 91% of whom are mandated by the Socialist United Party of Venezuela (PSUV). Only 30 mayors are led by opponents of the Nicolás Maduro regime.
Local governments not supported by Maduro continue to impose tax payments in Venezuela’s fiat currency, Bolivar, because some do not have the technology to process oil payments.
Vice President Rodriguez commented in the announcement:
“It is the simplification of procedures that makes the government more efficient in serving the people, and the economic sectors that stimulate productive and commercial activity, within the framework of this week of flexibility that began on Monday.”
The Venezuelan government announced on June 11 that approximately 15% of fuel payments at gas stations across the country were made via Petro (PTR). The increase comes in the first week of a new government-sponsored plan to encourage widespread use of the symbol.
According to local media reports, 40% of PTR transactions were made through foreign gas stations.