The Social Security Rate in Venezuela stands at 24.50 percent.

Social Security Rate in Venezuela averaged 24.27 percent from 2004 until 2018, reaching an all time high of 25 percent in 2009 and a record low of 23 percent in 2005. This page provides - Venezuela Social Security Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Social Security Rate in Venezuela is expected to be 24.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Venezuela Social Security Rate is projected to trend around 24.50 percent in 2020, according to our econometric models.

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Venezuela Social Security Rate

Actual Previous Highest Lowest Dates Unit Frequency
24.50 24.50 25.00 23.00 2004 - 2018 percent Yearly

Venezuela Social Security Rate
In Venezuela, the Social Security Rate is a tax related with labor income charged to both companies and employees. Revenues from the Social Security Rate are an important source of income for the government of Venezuela because they help to pay for many social programs including welfare, health care and many other benefits.