When you sell, ISLR (income tax) comes up twice. Before signing, the seller pays an anticipo (advance payment) of 0.5% of the price. Afterwards, the gain is added to the seller's other income on the annual return, and the anticipo is deducted from that tax. This guide summarizes the Ley de Impuesto sobre la Renta (Income Tax Law; Gaceta Oficial No. 6.210 Extraordinario, December 30, 2015) and its Reglamento (implementing regulations; Gaceta Oficial No. 5.662 Extraordinario, 2003). The other costs of the signing are in how much it costs to close a purchase.
We could not review the portal of the SENIAT (the national tax authority), which does not load from outside Venezuela. Forms, online procedures and extensions are not verified: confirm them with an accountant.
The 0.5% anticipo: who pays it and when
Article 86 of the Law sets an anticipo of 0.5% of the sale price, whether the sale is in cash or on credit. The seller pays it: they self-assess it, pay it and present the receipt to the judge, notary or registrar before the deed is executed (Parágrafo Segundo).
The Reglamento also requires a notificación de enajenación (notice of sale) on the SENIAT form, filed before the transaction. One copy goes to the notary or registrar and another is attached to the annual return (article 192).
How the taxable gain is calculated
The gain is the sale price minus cost. What is collected goes into the year's gross income (article 86, Parágrafo Séptimo); in sales on credit, only what is collected in that year (article 16, Parágrafo Tercero).
What counts as cost. The amount at which the asset entered your estate, plus improvements and registration fees (article 23, Parágrafo Segundo). The Reglamento takes the price stated in the respective document and excludes interest and financial expenses (article 38, numeral 2). An improvement is spending that increases the value of the property, not upkeep or maintenance (Reglamento, article 197, Parágrafo Primero). An invoice proves cost only if it bears the seller's RIF (Registro de Información Fiscal, tax ID number) (article 23, Parágrafo Primero).
Agent's commission. Commissions paid to intermediaries in the sale of properties are deductible (article 27, numeral 14).
Inflation adjustment. The Law allows it for individuals: article 175 lets them update the acquisition cost and improvements with the change in the Índice Nacional de Precios al Consumidor (national consumer price index), from the month of purchase (or January 1950, if the purchase is earlier) to the month of sale. The adjusted cost cannot exceed the sale price, so the adjustment does not create losses. The Reglamento repeats the rule, but with the BCV (Central Bank of Venezuela) index for the Área Metropolitana de Caracas (Caracas metropolitan area) (article 108). Taxpayers classified as special by the SENIAT are excluded (article 171).
Price in dollars. The Reglamento converts income in foreign currency at the average exchange rate for the fiscal year, following the BCV's methodology (article 23, Parágrafo Segundo). We did not confirm how the SENIAT applies it today.
Primary residence: when the gain is not taxed
Article 17 excludes from an individual's gross income what they obtain from selling their primary residence, if these conditions are met:
Nuances:
The Law does not clarify how this applies to a non-resident: see how to sell from abroad and consult an accountant.
Rates, non-residents and how the anticipo is deducted
Residents. The gain is added to the rest of the year's income. A desgravamen (personal deduction) is subtracted (itemized, or a flat 774 U.T.; articles 57 and 58), the rates in article 50 are applied, and then the rebaja personal (personal rebate) of 10 U.T. (article 59).
| Bracket (U.T.) | With the U.T. at Bs 43 | Rate on that portion |
|---|---|---|
| Up to 1,000 | Up to Bs 43,000 | 6% |
| 1,000 to 1,500 | Bs 43,000 to 64,500 | 9% |
| 1,500 to 2,000 | Bs 64,500 to 86,000 | 12% |
| 2,000 to 2,500 | Bs 86,000 to 107,500 | 16% |
| 2,500 to 3,000 | Bs 107,500 to 129,000 | 20% |
| 3,000 to 4,000 | Bs 129,000 to 172,000 | 24% |
| 4,000 to 6,000 | Bs 172,000 to 258,000 | 29% |
| Over 6,000 | Over Bs 258,000 | 34% |
The U.T. has been worth Bs 43 since Providencia (administrative order) SNAT/2025/000048 (Gaceta Oficial No. 43.140, June 2, 2025), according to Acceso a la Justicia. For an annual tax, the U.T. in force at the close of the fiscal year is used (Código Orgánico Tributario, the Organic Tax Code, article 3).
Non-residents. They pay 34% (article 50, Parágrafo Único), with no desgravámenes or rebates (articles 57 to 60), and they file whatever the amount (article 79). A non-resident is someone who does not spend more than 183 days of the calendar year in the country and does not qualify as domiciled (article 51).
When to file. A resident files if their net income exceeds 1,000 U.T. or their gross income exceeds 1,500 U.T. (article 77), within the three months after the close of the fiscal year, unless extended (article 146 of the Reglamento). Without commercial, industrial or service activities, the fiscal year is the calendar year (article 148).
The anticipo is deducted from the tax on the final return (articles 83 and 86). If the advance payments exceed the tax, article 56 allows the excess to be deducted on future returns, without prejudice to a refund; confirm with your accountant how this applies to the anticipo on a sale.
Illustrative example
Hypothetical case: a resident with no other income sells an apartment that is not their primary residence.
If the seller were not a resident: 34% of 3,000 = 1,020 U.T.; minus the anticipo, 920 U.T. (Bs 39,560).
This is an example, not a tax assessment: your other income, the actual index and your receipts change the result. File with an accountant.