In the Official Gazette of the Bolivarian Republic of Venezuela N° 41.351 of March 1st, 2018, was published the Presidential Decree  number 3.301, increasing 58% the minimum wage. Enexpectedly,  the 58% increase is not from March 1, 2018, but from February 15, 2018, therefore its application is retroactively.

Minimum wage : In this opportunity the minimum wage adjustment for workers in the public and private sectors of 58% increases it from Bs. 248.510,41 to Bs. 392.646,46 monthly. In the case of apprentices, the minimum wage was set in Bs. 294.484,84.

Cestaticket Socialista (food bonus) : in the Official Gazette of March 1, 2018, was also published the increase of the tax unit, which went from Bs. 300.00 to 500.00 Bs. from March 1, 2018. With the adjustment of the tax unit, the food bonus went from Bs. 549.000,00 to Bs. 915.000,00 monthly.

The monthly amount to be paid to workers reached a total of Bs. 1.307.646,46 starting from March 1, 2018. It is important to remember that only the minimum wage adjustment is retroactive to February 15, 2018.

For further information, contact us at: danielpm@mantelliniyasociados.com

 

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