WASHINGTON DC – National Foreign Trade Council (NFTC) Vice President for International Tax Policy Anne Gordon today issued a statement following Senate passage of the U.S.-Chile Tax Treaty:
“We are thrilled with today’s vote by the Senate consenting to the ratification of the U.S.-Chile Tax Treaty, a moment more than 10 years in the making. Chile is a vital U.S. partner in Latin America, and this treaty will allow American businesses to avoid double taxation which can currently climb as high as 44%. This treaty will go a long way in strengthening the economic relationship between the United States and Chile as well as encouraging more trade and bilateral investment.
“We thank Senators Schumer and McConnell, the Senate Foreign Relations Committee and the Senate Finance Committee for their extensive work in moving this treaty through the Senate.
“Tax treaties are critical mechanisms that strengthen America’s relationships with allies and partners and facilitate U.S. companies’ ability to succeed and do business abroad. We encourage the Administration and Congress to make negotiating and ratifying additional treaties a priority in the coming years.”
The NFTC recently released its annual Tax Treaty Survey, which identified Brazil, Singapore, Taiwan and India as top treaty priority countries for the business community. Read more here.
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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.
