[Weekly Compilation of Presidential Documents Volume 35, Number 26 (Monday, July 5, 1999)]
[Pages 1221-1222]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Message to the Senate Transmitting the Venezuela-United States Tax 
Agreement

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

[[Page 1222]]

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.