The law requires that both public and private enterprises that operate in the cultural sector with a net income exceeding 20,000 tax units currently equal to around BsF2.14 million must contribute 1% of their earnings to a newly created National Culture Fund.“This fund will be used to finance the creation, development, training, research, production, promotion, preservation, encouragement and consolidation of cultural activity,” the AN statement reads. The fund will be administered by the Ministry of Culture.The law also mandates the ministries of education and youth to work alongside the ministry of culture to promote the development of a “national identity” based on “decolonisation thought”.According to the AN statement, the law will “promote and guarantee the exercise of cultural creativity, the pre-eminence of the values of culture as a fundamental human right… recognising the national identity of cultural and ethnic diversity, multiculturalism and respecting the principle of cultural equality”.The statement also affirms that the government, along with the private sector and social organisations have an obligation to preserve not only the Spanish language and Hispanic culture, but also that of Venezuela’s indigenous and Afro-Venezuelan population.
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