Interest rates are comprised of the monthly rates set by the Central Bank of Venezuela. They are used to calculate the interest paid for the severance pay cumulated by the employee during the time with the company.

Interest is stored in the Interest rates table (T7VEIN). The following codes have been assigned according to the different interest rates specified:

• ‘1’: Average lending rates
• '2' Active and passive rate average.

In order to calculate the interest on severance payments you must carry out monthly maintenance of the T7VEIN table by entering the average rates corresponding to all months, from the start of the fiscal year up to the current date.