U.S. Senate Approves Long-Delayed International Tax Treaties

July 17, 2019, 4:56 PM

The Senate approved amended tax treaties with four U.S. trading partners that had been stalled for years over taxpayer privacy concerns.

The treaties and supplemental protocols with Spain, Switzerland, Japan and Luxembourg reduce withholding taxes on transactions between U.S. companies and foreign corporations. The treaties spell out which country has the authority to tax which income to avoid having individual and corporate taxpayers from paying taxes both in the country where they are working and their home country.

The agreements were negotiated and signed during President Barack Obama’s administration, with some pending in the Senate since 2010. The treaties had ...

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