Venezuela published Decree No. 4.972 in the Official Gazette on 12 July 2024, which reduces the financial transactions tax rate to 0% on specified transactions by designated "special taxpayers", i.e., large taxpayers, as well as entities related to special taxpayers and those acting on behalf of special taxpayers. The tax rate was previously 2%. The Decree also provides that the 3% tax rate on payment transactions made in foreign currency or cryptocurrency not issued by Venezuela continues to apply. Decree No. 4.972 entered into force on 15 July 2024.