In Venezuela, the use of Binance, P2P trading, and the payment for services in USDT or Bitcoin has become an everyday occurrence. But be careful: SENIAT is already keeping an eye on the digital economy. Not declaring not only exposes you to fines but could also block your access to the national banking system, as banks are cross-referencing information to justify the source of funds.
The Legal Backing: What does the law say?
The obligation is not a recent invention; it is based on existing laws that have been clarified for the digital environment:
Income Tax Law (Official Gazette No. 6,210): Establishes that any net and available enrichment (profit) obtained by a resident in Venezuela is subject to tax.
Decree No. 4,025 (Official Gazette No. 41,763): Instructs the obligation to maintain accounting records in cryptocurrencies.
Provision SNAT/2025/000043 (Official Gazette No. 43,140): Sets the Tax Unit (U.T.) at Bs. 43.00.
Key Date: If you earned more than 1,000 U.T. (Bs. 43,000) in net enrichment or 1,500 U.T. (Bs. 64,500) in gross income in 2025, YOU ARE OBLIGATED. With a salary of $150 to $300 per month, you exceed this limit in just 3 or 4 months.
Steps to make your Declaration (Natural Person)
If you are a freelancer, trader, or receive bonuses in crypto, follow this path:
Calculate your Enrichment: You do not declare the total you moved, but the profit.
Formula: $Selling Price - Purchase Price = Profit$.
Consolidate your reports: Download the transaction history from Binance or your exchange. Use it as support in case of any audits.
Enter the SENIAT Portal: Go to www.seniat.gob.ve, section "Natural Person".
Use the Unique Deduction: If you don't have expense invoices (medical, education), choose the unique deduction of 774 U.T. to legally reduce your taxable base.
Enter the data in Form DPN-25: Register your income in bolívares (converted at the official BCV rate of the date of the operation).
Pay (if applicable): If the system indicates an amount to pay, you can do it in 1, 2, or 3 installments.
⚠️ Consequences of ignoring this
Fines of the COT: The Organic Tax Code establishes severe penalties for not declaring or declaring with false data.
Banking Risk: Your bank may request the "ISLR Declaration" to keep your account active. If your banking income does not match what you declared, you could face account closure for "Money Laundering".
🔗 Sources and Links Consulted
SENIAT: Official Tax Portal
Nayma Consultants: Analysis on the value of the U.T. 2026
Gálac: Taxes and Cryptocurrencies in Venezuela
Jan Domínguez (Cointable): Risks of cryptocurrencies and taxation
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