The US Senate passed a long-stalled tax treaty with Chile last month, overcoming a dispute between Republicans and the Treasury Department over treatment of foreign tax credits.
Business groups had been pushing for the measure to strengthen economic ties with the South American country and to allow companies to avoid double taxation. Chile is one of the biggest producers of lithium, a key element in batteries and other technology.
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On this week’s episode of Talking Tax, Bloomberg Tax reporter Chris Cioffi talks with Business Roundtable Vice President for Tax and Fiscal Policy Catherine Schultz about a range of topics, including the Chile tax treaty and the fate of other treaties pending in the Senate. They also discuss Republican concerns that emerged in this Congress over double taxation and how lawmakers resolved the issue, at least temporarily, in the treaty.
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