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Ex. Rept. 114-4 1 (2016-02-08)

handle is hein.congrecreports/crptxqxn0001 and id is 1 raw text is: AUTHENTICATEO U.S. GOVERNMENT INFORMATION Gp 114TH CONGRESS SEAEExEc. REPT. 2d Session SENATE 114-4 TAX CONVENTION WITH CHILE FEBRUARY 8, 2016.-Ordered to be printed Mr. CORKER, from the Committee on Foreign Relations, submitted the following REPORT [To accompany Treaty Doc. 112-8] The Committee on Foreign Relations, to which was referred the Convention between the Government of the United States of Amer- ica and the Government of the Republic of Chile for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Re- spect to Taxes on Income and Capital, signed in Washington on February 4, 2010, with a protocol signed the same day, as corrected by the exchanges of notes effected February 25, 2011, and February 10 and 21, 2012, and a related agreement effected by exchange of notes on February 4, 2010 (Treaty Doc. 112-8), having considered the same, reports favorably thereon with one declaration, as indi- cated in the resolution of advice 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 rpose ........................................................................................................... 1 II. B ackground .................................................................................................... 2 III. M ajor Provisions ............................................................................................ 2 IV . E ntry Into Force ........................................................................................... 3 V. Im plem enting Legislation ............................................................................. 3 V I. Com m ittee A ction ......................................................................................... 3 VII. Com m ittee Com m ents ................................................................................... 4 VIII. Text of Resolution of Advice and Consent to Ratification .......................... 4 IX. Technical Explanation ................................................................................. 5 I. PURPOSE The purpose of the Convention is to promote and facilitate trade and investment between the United States and Chile. Principally, the Convention provides for reduced withholding rates on cross-bor- der payments of dividends, interest, royalties, and certain other in- come. In addition, the Convention would prevent avoidance or eva- 59-119

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