Tax effects of the Income Tax Law in relation to the agricultural activity with the assumption of a commercial company.

As regards the Venezuelan tax system, the National Integrated Service of Customs and Tax Administration (SENIAT) has implemented inspection processes, in the constant search for tax collection and to prevent tax evasion in some way.

Therefore, it seeks with all this to achieve in a definitive way to make effective that attribution, for which the State resorts to taxes, rates and special contributions. In the meantime, the analysis of the tax effects of the agricultural activity with the assumption of the mercantile companies as a formal duty for the formal taxpayers of the agricultural sector, its application is essential in order to achieve an effective collection.

It is important to point out that the assumption is when the decision is made to award a commercial figure in force in the country, such as the corporation, limited liability company and partnership in collective name or limited partnership, or as they are also known as limited partnership, whose orientation is inserted in the current commercial code.

On the other hand, it is important to emphasize that the code requires updating, however, the common citizen has no other choice but to decide whether to adopt the legal figure of a commercial company or to act as an individual agricultural producer, according to the current regulations, which has a different treatment in the income tax law and would have as a financial consequence pecuniary disbursements that could be oriented to the production activity itself..