Friday, May 18

Presidential Memorandum: Message from the President to the Senate Regarding a Tax Treaty with Chile

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Why is the Presidential Memorandum so important and why is the 1461 tracking them?
In January of 2009 the Presidential Memorandum was given the same power as the Executive Order by the Department of Justice in a statement by U.S. Assistant Attorney General Randolph D. Moss.
In effect, it suddenly became the equal to the Executive Order with the same power.

Presidential Memorandum: Message from the President to the Senate Regarding a Tax Treaty with Chile

For Immediate Release: May 17, 2012

Message from the President to the Senate Regarding a Tax Treaty with Chile


I transmit herewith, for the advice and consent of the Senate to their ratification, the Convention between the Government of the United States of America and the Government of the Republic of Chile for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and Capital, signed in Washington on February 4, 2010, with a Protocol signed the same day, as corrected by exchanges of notes effected February 25, 2011, and February 10 and 21, 2012, and a related agreement effected by exchange of notes (the "related Agreement") on February 4, 2010. I also transmit for the information of the Senate the report of the Department of State, which includes an Overview of the proposed Convention, the Protocol, and related Agreement.

The proposed Convention, Protocol, and related Agreement (together "proposed Treaty") would be the first bilateral income tax treaty between the United States and Chile. The proposed Treaty contains comprehensive provisions designed to address "treaty shopping," which is the inappropriate use of a tax treaty by residents of a third country, and provides for a robust exchange of information between the tax authorities in the two countries to facilitate the administration of each country's tax laws.

I recommend that the Senate give early and favorable consideration to the proposed Treaty and give its advice and consent to the ratification thereof.


May 17, 2012

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