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.
Venezuela has tax treaties with the following countries:
|Brazil||Kuwait||Trinidad and Tobago|
|China||Mexico (not in force)||United Arab Emirates|
|Czech Republic||Norway||United States|
Treaty with Mexico not in force. Entering into force of treaties with Palestina and Turkey not confirmed.