CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. US And Aruba TIEA Enters Into Force

US And Aruba TIEA Enters Into Force

by Mike Godfrey, Tax-News.com, Washington

16 September 2004


The US Treasury Department announced on Monday that the United States and Aruba have exchanged diplomatic notes bringing into force the tax information exchange agreement between the two countries signed in Washington, DC in 2003.

The US-Aruba Tax Information Exchange Agreement is consistent with the standards for an exchange of information agreement described in the Internal Revenue Code. The Code generally allows US taxpayers to claim a tax deduction for expenses associated with a convention held in certain beneficiary countries with tax information exchange agreements with the United States to the same extent as a convention held in the United States.

As of September 13, 2004, Aruba is considered part of the ‘North American area’ for purposes of determining whether US taxpayers may deduct expenses incurred in attending conventions, business meetings and seminars in Aruba.

Convention expenses that are incurred by US taxpayers for meetings in geographical areas considered part of the North American area and that otherwise are deductible as ordinary and necessary business expenses are allowed as deductions without regard to the additional limitations applicable to deductions for expenses associated with foreign conventions.


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »