Treaty between Malaysia and Venezuela enters into force

The income tax treaty and protocol between Malaysia and Venezuela, signed on 28 August 2008, entered into force on 8 January 2008. The treaty generally applies in Malaysia from 1 January 2009 for income/withholding taxes and 1 January 2010 for petroleum income tax. In Venezuela, it applies from 1 January 2009. Details of the treaty will be reported subsequently.