    [Public Papers of the Presidents of the United States: William J. Clinton (1999, Book I)]
    [June 29, 1999]
    [Page 1040]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Message to the Senate Transmitting the Venezuela-United States
    Tax Convention and Protocol With Documentation
    June 29, 1999

    To the Senate of the United States:
        I transmit herewith for Senate advice and consent to ratification
    the Convention Between the Government of the United States of America
    and the Government of the Republic of Venezuela for the Avoidance of
    Double Taxation and the Prevention of Fiscal Evasion with Respect to
    Taxes on Income and Capital, together with a Protocol, signed at Caracas
    on January 25, 1999. Also transmitted is the report of the Department of
    State concerning the Convention.
        This Convention, which is similar to tax treaties between the United
    States and other developing nations, provides maximum rates of tax to be
    applied to various types of income and protection from double taxation
    of income. The Convention also provides for resolution of disputes and
    sets forth rules making its benefits unavailable to residents that are
    engaged in treaty shopping.
        I recommend that the Senate give early and favorable consideration
    to this Convention and that the Senate give its advice and consent to
    ratification.

                                                          William J. Clinton

    The White House,

    June 29, 1999.