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![handle is hein.congrecreports/crptxacmf0001 and id is 1 raw text is: AUTHENTICATEO
U.S. GOVERNMENT
INFORMATION
Op
116TH CONGRESS SN I EXEC. REPT.
1st Session JSENATE 116-1
PROTOCOL AMENDING THE TAX
CONVENTION WITH SPAIN
JULY 10, 2019.-Ordered to be printed
Mr. RISCH, from the Committee on Foreign Relations,
submitted the following
REPORT
[To accompany Treaty Doc. 113-4]
The Committee on Foreign Relations, to which was referred the
Protocol Amending the Convention between the United States of
America and the Kingdom of Spain for the Avoidance of Double
Taxation and the Prevention of Fiscal Evasion with Respect to
Taxes on Income and its Protocol, signed at Madrid on February
22, 1990, and a related Memorandum of Understanding signed on
January 14, 2013, at Madrid, together with correcting notes dated
July 23, 2013, and January 31, 2014 (together the Protocol)
(Treaty Doc. 113-4), having considered the same, reports favorably
thereon with one declaration, as indicated in the resolution of ad-
vice and consent, and recommends that the Senate give its advice
and consent to ratification thereof, as set forth in this report and
the accompanying resolution of advice and consent.
CONTENTS
Page
I. P u rp o se ........................................................................................................... 1
II. B ack grou n d ................................................................................................... 2
III. M ajor P rovision s ........................................................................................... 2
IV . E n try Into F orce ........................................................................................... 3
V . Im plem enting Legislation ............................................................................. 3
V I. C om m ittee A ction ......................................................................................... 3
V II. Com m ittee Com m ents ................................................................................... 4
VIII. Text of Resolution of Advice and Consent to Ratification .......................... 5
IX. Annex 1.- Technical Explanation ............................................................... 9
I. PURPOSE
The purpose of the Protocol, along with the underlying treaty, is
to promote and facilitate trade and investment between the United
States and Spain. The proposed Protocol provides an exemption
from source-country withholding on certain direct dividend pay-
ments and limits source-country taxation on all other dividends
89-119](ViewImageLocal?handle=hein.congrecreports/crptxacmf0001&div=1&collection=&method=preview&ext=.png&size=3)