Venezuelan mayors agreed to expand the adoption of Petro as a means to collect payments of taxes

According to the government, Venezuela’s vice president, Delcy Rodríguez, signed the “National Tax Harmonization Agreement” for its 305 municipalities. In it, the most surprising is that the Venezuelan government also lists the Petro (PTR) on the list of means of collecting tax payments.


Venezuelan mayors agreed to expand the adoption of Petro

It is known that Rodríguez will be in charge of deploying the single taxpayer registry through a digital advisory tool. She will also be in charge of creating a monitoring and information exchange system for companies, aimed at recording the state’s cryptocurrency payments.

In Venezuela, there are 335 mayors, 91% of which are under the mandate of the United Socialist Party of Venezuela. Only 30 mayors are headed by opponents of President Nicolás Maduro’s regime.

The city governments not supported by Maduro are continuing to collect tax payments in Venezuelan fiat currency, Bolívar. This is because many of these cities do not have the proper technology to process Petro payments.

Vice President Rodríguez commented:

“It is the simplification of procedures, making the State’s administrative activity at the service of the people more efficient, of the economic sectors that stimulate economic activity in the productive and commercial areas, framed in this week of flexibility that began on Monday.”

On June 11, 2020, the Venezuelan government announced that nearly 15% of all fuel payments at gas stations across the country are made in Petro (PTR). This increase comes in the first week of a new state-backed scheme that aims to promote the widespread use of PTR tokens.

According to reports from domestic media, 40% of PTR transactions are done through foreign petrol stations.

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