New Treaties Need Clarification for Anti-Abuse Tax, Treasury Says

Three new tax treaties could leave companies uncertain whether a provision of the 2017 tax overhaul applies to them, Treasury Assistant Secretary for Tax Policy David Kautter said in a letter to Sen. Bob Menendez.

After nine years of being unable to pass a tax treaty, the Senate is on the verge of taking up seven treaties for ratification: new treaties with Chile, Hungary, and Poland, and protocols—which update existing treaties—with Japan, Luxembourg, Spain, and Switzerland.

Senate Foreign Relations Chairman Jim Risch (R-Idaho) hopes to act soon on several of the treaties, a committee aide said ...