New U.S.-Netherlands income tax treaty continues Netherlands Antilles interest exemption.The United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and the Netherlands signed a new income tax treaty on Dec. 18, 1992 that will replace the existing treaty that came into force in 1947. The new treaty generally will enter into force 30 days after ratification The confirmation or adoption of an act that has already been performed. A principal can, for example, ratify something that has been done on his or her behalf by another individual who assumed the authority to act in the capacity of an agent. by both countries. The old treaty was extended to the Netherlands Antilles Netherlands Antilles, island group, an autonomous part of the Netherlands (2005 est. pop. 220,000), 371 sq mi (961 sq km), West Indies. Formerly known as the Dutch West Indies and Netherlands West Indies, they are divided into two groups. in 1955. On June 29, 1987, the United States announced that it would terminate this extension effective Jan. 1, 1988. However, on July 10, 1987, the Treasury announced that the provisions of the treaty extension relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the withholding tax The amount legally deducted from an employee's wages or salary by the employer, who uses it to prepay the charges imposed by the government on the employee's yearly earnings. exemption for interest (Article VIII) would remain in force. The new treaty provides for the continuation of the old treaty to the extent it applies to the Netherlands Antilles. Paragraphs 3 and 4 of Article 37 ("Entry Into Force") of the new treaty state the following: 3. Subject to the provisions of paragraph 4, the prior Convention shall cease to have effect when the provisions of this Convention take effect in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with paragraphs 1 and 2. 4. This Convention shall not affect any Agreement in force extending the Convention signed at Washington on April 29, 1948, in accordance with Article XXVII thereof. This language is intended to keep the existing 1955 protocol (and related Treasury Department announcements) in force after the new treaty becomes effective. Therefore, this new treaty will not affect the Netherlands Antilles interest exemption that arose out of the 1955 protocol and the Treasury's announcements. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion