Venezuela - United States Treaty Development - Negotiations

A round of negotiations for a new double taxation treaty with the United States took place in June 1997 in Caracas. The primary aim of the US negotiators is to extend application of the treaty to the municipal level in Venezuela so as to cover the local business tax (patente de industria y comercio). Representatives of Venezuela have expressed their willingness to introduce the necessary changes to domestic law to meet US expectations. The negotiations are expected to be concluded before President Clinton's visit to Venezuela in October 1997.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

For further information contact Deirdre Silberstein, Washington, on +1 202 955 4000 or enter a text search "Deloitte & Touche" and "Business Monitor".