US Senate Ratifies DTAs With Denmark, Finland
The United States Senate has ratified new double taxation avoidance and prevention
of fiscal evasion agreements with Finland and Denmark, Senate Foreign Relations
Committee Republican leader, Dick Lugar has announced. According to Lugar, the agreements, ratified on November 16, will bolster the
economic relationships between the United States and the other countries concerned, although they are already
close trade and investment partners. "As the United States considers how to create jobs and maintain economic
growth, it is important that we try to eliminate impediments that prevent our
companies from fully accessing international markets," Lugar stated. "These impediments may come in the form of regulatory barriers, taxes,
tariffs, or unfair treatment. In the case of taxes, we should work to ensure
that companies pay their fair share, while not being unfairly taxed twice on
the same revenue," he added. Tax treaties are intended to prevent double taxation so that companies are
not inhibited from doing business overseas. "As the US moves to keep the economy growing and to increase US employment,
international tax policies that promote foreign direct investment in the United
States are critically important,” Lugar concluded. .
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