Treaty on Avoidance of Double Taxation

From: Subject: Treaty on Avoidance of Double Taxation Date: Thu, 11 Sep 2008 14:11:11 +0300 MIME-Version: 1.0 Content-Type: multipart/related; type="text/html"; boundary="----=_NextPart_000_0000_01C91418.3E778280" X-MimeOLE: Produced By Microsoft MimeOLE V6.00.2900.3350 This is a multi-part message in MIME format. ------=_NextPart_000_0000_01C91418.3E778280 Content-Type: text/html; charset="windows-1251" Content-Transfer-Encoding: quoted-printable Content-Location: http://www.amcham.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0092&n=000016&g= Treaty on Avoidance of Double Taxation

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American Chamber of Commerce in = Bulgaria=20 is a member of:

US Chamber of=20 = Commerce

3D""=20

European = Council of=20 American Chambers of=20 Commerce

Treaty on = Avoidance of=20 Double = Taxation

On June 4 the US President = George Bush=20 wrote to the Senate of the United States with = regard to=20 the Ratification of the=20 TADT:

I transmit herewith, for Senate advice and = consent to=20 ratification, the Convention Between the = Government of=20 the United States of America and the Government = of the=20 Republic of Bulgaria for the Avoidance of Double = Taxation and the Prevention of Fiscal Evasion = With=20 Respect to Taxes on Income, with accompanying = Protocol,=20 signed at Washington on February 23, 2007 (the = "Proposed=20 Treaty"), as well as the Protocol Amending the=20 Convention Between the Government of the United = States=20 of America and the Government of the Republic of = Bulgaria for the Avoidance of Double Taxation = and the=20 Prevention of Fiscal Evasion With Respect to = Taxes on=20 Income, signed at Sofia on February 26, 2008 = (the=20 "Proposed Protocol of Amendment").

The Proposed Treaty and Proposed Protocol of=20 Amendment are consistent with U.S. tax treaty = policy.=20 Also transmitted for the information of the = Senate is=20 the report of the Department of State with = respect to=20 the Proposed Treaty and Proposed Protocol of = Amendment.=20

The Proposed Treaty generally reduces the = withholding=20 tax on cross-border dividend, interest, and = royalty=20 payments. Importantly, the Proposed Treaty = generally=20 eliminates withholding tax on cross-border = dividend=20 payments to pension funds and cross-border = interest=20 payments made to financial institutions. The = Proposed=20 Treaty also contains provisions, consistent with = current=20 U.S. tax treaty policy, that are designed to = prevent=20 so-called treaty shopping. The Proposed Protocol = of=20 Amendment further strengthens these treaty = shopping=20 provisions.

I recommend that the Senate give early and = favorable=20 consideration to the Proposed Treaty and give = its advice=20 and consent to ratification to both the Proposed = Treaty=20 and the Proposed Protocol of Amendment.

George W. Bush
The White House,
June = 4,=20 2008

Printer Friendly Version

=20 = =20 = =

Treaty on Avoidance of = Double=20 = Taxation

Bulgaria, US Sign = Agrement on=20 Avoiding Double Taxation (Updated info, = Febr.=20 28, 2008)

Bulgarian Parliament = Ratifies=20 TADT

Bulgaria, US Sign = Agreement on=20 Avoiding Double=20 = Taxation

DTT Update by Kenneth = Lefkowitz,=20 June 15 = 2006

Position Paper - = February=20 2006

Archive_Minister of = Finance Meets=20 AmCham Bulgaria /in BG/_Jan. 26=20 2006

Archive_US-Bulgaria DTT = Action=20 Plan Jan. = 2006

Archive_US and Bulgaria = to=20 Negotiate Income Tax Treaty /April=20 2005/

Archive_AmCham Meets = with US=20 Treasury /May 27=20 2005/

American Chamber of Commerce in = Bulgaria Tel: (359 2) = 9742 743, 9742=20 744, 9742 745;Fax: (359 2) 9742 741 e-mail:amcham@amcham.bg
Business Park Sofia, bld. 2, fl. 6, 1715 = Sofia

Amcham=20 Magazine Daily Year=20 Book US=20 Chamber EU=20 Publication

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