Article

US: Senate urged to approve double tax treaties.


Added on 16/05/2019

As published on internationalinvestment.net, Thursday 16th May, 2019.

 

Over 70 companies in the United States have signed a letter to the US Senate urging that a myriad of international tax treaties be approved.

The letter was addressed to Senate majority leader Mitch McConnell and James Risch, Senate foreign relations committee chairman and follows legislation first proposed in January, says: "We ask for your support for these treaties and protocols and also ask for expeditious action on them by both the Senate Foreign Relations Committee and the Senate."

The letter, published on behalf of the companies by the US National Foreign Trade Council (NFTC) at the end of April, is addressed to Senate Majority Leader Mitch McConnell and Senate Foreign Relations Committee Chairman James Risch, emphasises the role of the DTTs in supporting investment in US business through "fostering bilateral trade" and protecting US businesses from double taxation of income earned from business in foreign markets.

The Senate is currently considering tax conventions with Chile, Hungary and Poland and four amended tax treaties with Luxembourg, Spain, Switzerland and Japan.