About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline

LOG IN
LOG IN


Ex. Rept. 116-1 1 (2019-07-10)

handle is hein.congrecreports/crptxacmf0001 and id is 1 raw text is: AUTHENTICATEO U.S. GOVERNMENT INFORMATION Op 116TH CONGRESS SN I EXEC. REPT. 1st Session JSENATE 116-1 PROTOCOL AMENDING THE TAX CONVENTION WITH SPAIN JULY 10, 2019.-Ordered to be printed Mr. RISCH, from the Committee on Foreign Relations, submitted the following REPORT [To accompany Treaty Doc. 113-4] The Committee on Foreign Relations, to which was referred the Protocol Amending the Convention between the United States of America and the Kingdom of Spain for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and its Protocol, signed at Madrid on February 22, 1990, and a related Memorandum of Understanding signed on January 14, 2013, at Madrid, together with correcting notes dated July 23, 2013, and January 31, 2014 (together the Protocol) (Treaty Doc. 113-4), having considered the same, reports favorably thereon with one declaration, as indicated in the resolution of ad- vice and consent, and recommends that the Senate give its advice and consent to ratification thereof, as set forth in this report and the accompanying resolution of advice and consent. CONTENTS Page I. P u rp o se ........................................................................................................... 1 II. B ack grou n d ................................................................................................... 2 III. M ajor P rovision s ........................................................................................... 2 IV . E n try Into F orce ........................................................................................... 3 V . Im plem enting Legislation ............................................................................. 3 V I. C om m ittee A ction ......................................................................................... 3 V II. Com m ittee Com m ents ................................................................................... 4 VIII. Text of Resolution of Advice and Consent to Ratification .......................... 5 IX. Annex 1.- Technical Explanation ............................................................... 9 I. PURPOSE The purpose of the Protocol, along with the underlying treaty, is to promote and facilitate trade and investment between the United States and Spain. The proposed Protocol provides an exemption from source-country withholding on certain direct dividend pay- ments and limits source-country taxation on all other dividends 89-119