Saturday, August 9, 2008

Venezuela No 2

Location : Off Jamaica , 17 24 N 080 31 W

In line with the yesterdays fiscal stamp, I wanted to put another one I spotted on the official papers. This one seems to have a value written on it of 0.02 UT, a value I'm not sure what it represents in Big Mac's.

If someone could shed some light on then, it would be greatly appreciated.

1 comment:

Will said...


Just a note to tell you that the notation UT means UNIDAD TRIBUTARIA which is a unit of measure used in Venezuela to denote the cost of some operation and transaction made with the Venezuelan State. As Venezuela have high inflation rates ¿over 30)/yearly?, to use concret amount of bolivares to express how much is to, say, register a document in a notary, is simply nonsense. So the goverment say that to register a document is 1UT forever... and year after year they adapt the cost of a UT (being around 55 BsF this year). This way they can print fiscal stamps and, in some way, easy the process. I hope it helps.