Venezuela

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:

Notes

1. The treaty with Mexico has been published in the Official Gazette and signed by the contracting parties but has not entered into force since diplomatic notes have not been exchanged.
2. Entering into force of treaties with Palestine and Turkey has not been confirmed.