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HMRC internal manual

Double Taxation Relief Manual

HM Revenue & Customs
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Venezuela: Tax spared

The agreement provides for credit to be given for tax `spared’ (see INTM161270 - INTM161280) in Venezuela under the provisions of Venezuelan law expressly set out in Article 22(3). Relief from United Kingdom tax under this provision is not available where the income or gains on which tax is spared arise or accrue after 31 December 2006.

All amounts of tax spared for which credit relief is given should be reported to HMRC, Business International, Tax Treaty Team, as mentioned in INTM161290.