ACCESSION
NUMBER:360820
FILE ID:EUR414
DATE:09/15/94
TITLE:PORTUGUESE FOREIGN MINISTER BARROSO VISITS THE U.S. (09/15/94)
TEXT:*94091512.PFE
*EUR414 09/15/94
PORTUGUESE FOREIGN MINISTER BARROSO VISITS THE U.S.
(State Department Fact Sheet 09/15/94) (350)
Portuguese Foreign Minister Jose Manuel Durao Barroso is visiting the United
States September 15 and 16. This is his first visit to the United States
since becoming Foreign Minister in 1992.
On September 15, he and Secretary Christopher will sign a customs agreement
and exchange protocols of signature regarding the income tax treaty between
the United States and Portugal.
CONVENTION AND PROTOCOL BETWEEN THE UNITED STATES OF AMERICA AND THE
PORTUGUESE FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF
1ISCAL EVASION WITH RESPECT TO TAXES ON INCOME
The income tax treaty will be the first tax treaty between the two countries
and is regarded by both as an important step in promoting trade and
investment relations. Portugal is the only member country of the European
Union with which the United States does not now have an income tax treaty
in effect.
The proposed treaty reduces taxes on cross-border payments of dividends,
interest, branch profits, and royalties and will there by reduce trade
barriers between the two countries.
The treaty requires Senate approval. We are hopeful to have the
ratification process completed by the end of this year. The treaty will
enter into force on the date on which the instruments of ratification are
exchanged, and its provisions will generally have effect on the following
January 1.
Copies of the treaty may be obtained by writing the office of Pubic Affairs,
U.S. Treasury Department, Room 2315, Washington, D.C. 20220, or calling
(202) 622-2960.
CUSTOMS MUTUAL ASSISTANCE AGREEMENT
The Customs Mutual Assistance Agreement (CMAA) will promote U.S.-Portuguese
cooperation in prevention, investigation and repression of customs
offenses.
U.S. domestic laws do not permit disclosure of much information in the
absence of a formal agreement or treaty. This agreement will allow us to
exchange information, intelligence, and other assistance.
U.S. Customs has signed agreements with a number of other countries. As of
this date, 25 have entered into force.
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