Agreement reached on revising US income tax treaties with Japan and Spain; progress made on other US income tax treaties

Washington National Tax Services

The United States is making progress on several important tax treaties, either on protocols to existing treaties or finalization of new treaties.

These developments could affect any corporate group engaged in business activity or investments between the United States and any of the following countries: Hungary, Poland, Switzerland, Luxembourg, Chile, Japan, Spain, Norway, the United Kingdom, or Vietnam. The forthcoming changes in the US tax treaties with those countries could involve important provisions such as those regarding withholding taxes, taxation of business profits, basic qualification for treaty benefits, and the Competent Authority dispute resolution process.

Note: The terms of negotiated treaties and protocols are not released to the public until signature.



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