Details of the Belarusian Presidential Decree No. 395, dated 21 July 2008, regarding double taxation relief between Belarus and Venezuela, have become available. The Decree entered into force on the date of signature and applies to transactions originating after 1 January 2008. The Decree stipulates that before the income and capital tax treaty between Belarus en Venezuela signed on 8 December 2007 enters into force, corporate income tax paid by Belarusian-resident companies in Venezuela can be credited against tax liabilities in Belarus, provided that the payment of the tax is confirmed by the Venezuelan tax authorities. The credit is limited...