Venezuela

Individual - Foreign tax relief and tax treaties

Last reviewed - 04 August 2021

Foreign tax relief

Resident individuals may take credit for income tax paid abroad with regard to extraterritorial source income. The foreign tax credit cannot exceed the domestic tax on the total foreign-source income. No carry forward rules for the amounts of credit in excess of the aforesaid limit are provided.

Tax treaties

Venezuela has tax treaties with the following countries:

Austria Indonesia Saudi Arabia
Barbados Iran Spain
Belarus Italy Sweden
Belgium Korea Switzerland
Brazil Kuwait Trinidad and Tobago
Canada Malaysia Turkey 
China Mexico (not in force) United Arab Emirates 
Cuba Netherlands United Kingdom 
Czech Republic Norway United States 
Denmark Palestina  Vietnam
France Portugal
Qatar
Germany Russia

Treaty with Mexico not in force. Entering into force of treaties with Palestina and Turkey not confirmed.