Friday, May 10, 2019
In a letter published on April 29, 2019, the United States National Foreign Trade Council urged the Senate to approve several pending double tax avoidance treaties.
The letter, signed by more than 85 US companies, highlights the important role of income tax treaties in fostering bilateral trade relations and protecting US taxpayers from double taxation.
The letter, addressed to Senate Majority Leader Mitch McConnell (R-KY) and Senate Foreign Relations Committee Chairman James Risch (R-ID), states: "The bilateral income tax treaties and protocols pending before the Senate Foreign Relations Committee are important to US economic growth and US trade and tax policy. For over eighty years, income tax treaties have played a critical role in fostering US bilateral trade and investment and protecting US businesses, large and small, from double taxation of the income they earn from selling goods and services in foreign markets."
"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."
According to the US State Department, as of January 2, 2019, the following tax agreements signed by the US were pending in the Senate: