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WORLD WATCH

September 08, 1993|From Times Staff and Wire Reports

Venezuela to Weigh Value-Added Tax: Finance Minister Carlos Rafael Silva said he will propose to the Cabinet on Thursday a value-added tax that would begin in October with a 10% tax on wholesale imports of consumer goods. The tax would be extended to sales at the retail level after Jan. 1. He said that because public services and certain basic consumer goods would be exempt from the new tax, the 10% levy would not necessarily raise the cost of living significantly.

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