Chilean Treaty sent to US Senate for ratification

US Tax Treaty Developments

On May 17, 2012, President Obama transmitted to the US Senate for ratification the new income tax treaty, protocol and exchange of notes signed by the governments of Chile and the United States on February 4, 2010, which have been corrected by subsequent exchanges of notes signed on February 25, 2011, and most recently, on February 10 and 21, 2012 (the "Proposed Treaty").

The Proposed Treaty represents a significant development in US tax treaty negotiations in that it is only the second US tax treaty signed with a South American country (the first such treaty was signed with Venezuela in 1999) and is the first bilateral income tax treaty between the United States and Chile.



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