According to recent reports, Venezuela has approved and published the Constitutional Wealth Tax Law, which introduces a new non-deductible wealth tax on individuals with net wealth (assets) in excess of 36 million tax units and legal entities with assets in excess of 100 million tax units. Assets for the purpose of the net wealth tax include immovable property, ships, aircraft, vehicles, shares and other participations in companies, and certain others. The tax applies for both residents and non-residents, with global assets considered for residents and assets in Venezuela considered for non-residents, including assets attributed to a PE in Venezuela. A...