Venezuela

{"ftc_utility":"medium","fbar_trigger_notes":"US citizens with Venezuelan bank accounts exceeding $10,000 (or equivalent in bolivares) must file FinCEN 114 (FBAR). Venezuela's severe currency controls and hyperinflation make maintaining USD-denominated or stable-value accounts extremely difficult. Most US expats with legitimate business in Venezuela maintain accounts outside Venezuela to avoid bolivar devaluation risk. FBAR reporting obligations apply to any account, regardless of local currency instability.","ftc_utility_reason":"Venezuela taxes residents on Venezuelan-source income at rates up to 34%. For US expats earning Venezuelan-source income, the Foreign Tax Credit can shelter equivalent US tax liability. However, Venezuela's economic dysfunction, currency controls, and the practical difficulty of repatriating funds reduce the relevance of FTC planning. For US-source income earned while resident in Venezuela, FTC utility is low since Venezuela generally does not tax foreign-source income of non-domiciled residents.","presence_day_count_notes":"The US State Department rates Venezuela at Level 4 - Do Not Travel. There is no functioning US embassy in Caracas as of 2019; Switzerland provides limited consular services. While there is no formal legal barrier to the 330-day physical presence test from a Venezuelan immigration standpoint, the extreme security risks, hyperinflation, and humanitarian crisis make extended residence highly unusual for US expats. Days spent in Venezuela count toward the 330-day test as long as the individual is physically present, regardless of visa status.","typical_qualifying_method":"either","housing_exclusion_available":true,"physical_presence_test_applies":true,"estimated_housing_exclusion_usd":8000,"local_tax_rate_on_earned_income":0.34,"bona_fide_residence_test_applies":true}

{"pension_income":{"notes":"Foreign pension income received by Venezuelan tax residents may be subject to Venezuelan income tax under the domicile rules. Progressive rates up to 34% apply. The practical enforcement is limited given Venezuela's economic and institutional environment, but the legal exposure exists for domiciled individuals.","tax_rate":0.34,"locally_taxed":true},"social_security":{"notes":"No US-Venezuela totalization or income tax treaty exists. US Social Security benefits received by Venezuelan residents are not specifically addressed in Venezuelan law. Under Venezuela's modified territorial system, such payments are generally not subject to Venezuelan tax for most residents, but long-term domiciled residents face more exposure. No treaty protection is available.","locally_taxed":false,"treaty_protection":false},"roth_distributions":{"notes":"Roth IRA distributions consist of after-tax contributions and qualified earnings. Venezuela does not have specific rules addressing Roth structures. Given Venezuela's modified territorial system and lack of treaty, qualified Roth distributions are unlikely to be separately taxed, but this is not codified. US expats should obtain local tax advice.","locally_taxed":false},"us_401k_ira_distributions":{"notes":"There is no tax treaty between the United States and Venezuela. US-sourced retirement distributions received by a Venezuelan tax resident are treated as foreign-source income subject to Venezuelan territorial rules. Venezuela uses a territorial-plus system: residents are taxed on Venezuelan-source income, and foreign-source income is generally only taxable if the resident is deemed domiciled (permanent home) in Venezuela. In practice, US pension and IRA distributions may be exposed to Venezuelan tax for long-term residents, at progressive rates up to 34%. The absence of a treaty means no treaty-based protection or reduced withholding applies.","tax_rate":0.34,"locally_taxed":true,"treaty_protection":false}}

{"rate":0.34,"notes":"Venezuela does not have a separate capital gains tax. Gains are treated as ordinary income and taxed at progressive rates up to 34%.","details":{"tax_type":"Capital Gains Tax","country_name":"Venezuela","country_iso_code":"VEN","source_references":["PwC Worldwide Tax Summaries - Venezuela","SENIAT (Venezuelan tax authority)"],"last_verified_date":"2026-06-03","general_description":"Capital gains in Venezuela are included in taxable income and subject to the standard progressive income tax rate schedule. The top marginal rate is 34%, applied to income above 6,000 Tax Units (UT). There is no preferential rate or separate CGT regime.","corporate_capital_gains":{"rate":0.34,"tax_treatment":"Taxed as ordinary corporate income at the standard CIT rate of 34% (top rate). Capital gains are not ring-fenced."},"individual_capital_gains":{"rate":0.34,"tax_treatment":"Taxed as ordinary income under the progressive PIT schedule. Top rate of 34% applies to annual income exceeding 6,000 Tax Units."}}}

{"notes":"Venezuela imposes a dividend tax (impuesto proporcional) on dividends distributed from profits that were not previously taxed at the corporate level. The standard withholding rate is 34% on such untaxed distributions. Dividends paid from already-taxed profits are generally exempt from further personal income tax. A flat proportional tax of 34% applies to dividends paid to non-residents.","rates":[{"rate":0.34,"type":"withholding","notes":"Rate applied to dividends from untaxed profits and to payments to non-residents."},{"rate":0,"type":"exempt","notes":"Dividends distributed from profits already subject to corporate income tax are exempt from additional individual income tax in most cases."}]}