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US Senate Ratifies DTAs With Denmark, Finland

by Mike Godfrey, Tax-News.com, Washington

03 December 2007


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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