WASHINGTON DC – National Foreign Trade Council (NFTC) Vice President for International Tax Policy Anne Gordon today issued a statement following the announcement that the Convention Between the Government of the United States of America and the Government of the Republic of Chile for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and Capital (the U.S.-Chile Tax Treaty) enters into force today with an impact in 2024:
“NFTC commends the Governments of the United States and Chile for taking the final step in the long process to approve the U.S.-Chile Tax Treaty, allowing the agreement to enter into force today. The U.S.-Chile Tax Treaty is essential for strengthening the economic relationship between the United States and Chile, a vital U.S. partner in Latin America. The agreement will bring relief from double taxation for U.S. businesses operating in the country and will enhance economic cooperation and increase investment in both countries.
“NFTC has long advocated for the expansion of the U.S. tax treaty network to ensure the continued global competitiveness of American businesses by eliminating excessive foreign taxes, double taxation, and other obstacles in international markets. Bilateral income tax treaties such as this one are fundamental to strengthening international ties and creating economic opportunities for our businesses abroad.
“NFTC supports continued efforts by the Administration and Congress to promote strong international economic relationships by negotiating and ratifying additional tax treaties in the future.”
About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.