A UAE Venezuela double tax avoidance agreement (DTAA) was signed according to a press release 07 June 2010.
- The UAE-Venezuela DTAA is the first between a Latin American country and the UAE according to the report.
- Previous reports have indicated the UAE is attempting to negotiate DTAAs with other Latin American countries, including Brazil, Chile, Colombia.
- The UAE Ministry of Finance said in the press release that they had signed an agreement of double taxation avoidance and tax evasion prevention on income and capital.
- Or a more detailed paragraph said The agreement covers all types of taxes on income and capital, namely taxes imposed on total income or on elements of income including taxes on gains from transferring the ownership of the movable and immovable properties. It also covers taxes on investments in public and private sectors and contains simplifies financial and tax benefits of air and sea carriers.