As you might know, on January 14, 2013 the “new Protocol” amending the Tax Treaty between the United States of America and Spain for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income was signed. This “new Protocol” establishes significative tax reductions in the taxation of dividends, interests, royalties and capital gains, but since then the ratification process has been blocked by an US senator (Rand Paul).

Finally, last June 25, 2019 the US Senate Committee of International Affairs approved the new protocols amending the tax treaties between Switzerland, Luxembourg, Japan and Spain.

Therefore, the last pending step is the definitive ratification and approval by the US Congress and Senate, so it is expected the new protocol will be approved shortly.

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