And remember the tax free status of the PDVSA bonds that we were told about? Weel, it turns out they are and they aren’t. Using some unnamed power that the President has to give tax free status to the earnings of sectors that are considered imporatnt to the national economic development, a decree was issued yesterday giving tax free status to the PDVSA bonds for only five years and only for residents of Venezuela.
Strange for bonds issued for 10,20 and 30 years, most of which will end up in the hands of foreign investors.
The Devil's Excrement 
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