Letter to the Chairman of the Senate Committee on Foreign Relations Reporting on the Venezuela-United States Tax Convention

Dear Mr. Chairman:

In accordance with the resolution of advice and consent to ratification of 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, adopted by the Senate of the United States on November 5, 1999, I hereby certify that:

In connection with Declaration (1), New Venezuelan Tax Law:

(i) the new Venezuelan tax law has been enacted in accordance with Venezuelan law;

(ii) the Department of Treasury, in consultation with the Department of State, has thoroughly examined the new Venezuelan tax law; and

(iii) the new Venezuelan tax law is fully consistent with and appropriate to the obligations under the Convention.

Sincerely,

WILLIAM J. CLINTON