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“REMOVAL OF INJUNCTION OF SECRECY--TREATY DOCUMENT NO. 111-3” mentioning the U.S. Dept of State was published in the Senate section on pages S6666 on June 16, 2009.
The publication is reproduced in full below:
REMOVAL OF INJUNCTION OF SECRECY--TREATY DOCUMENT NO. 111-3
Mr. REID. Madam President, as in executive session, I ask unanimous consent that the injunction of secrecy be removed from the following treaty transmitted to the Senate on June 16, 2009, by the President of the United States:
Protocol Amending the Tax Convention with New Zealand, Treaty Document 111-3.
I further ask that the treaty be considered as having been read the first time; it be referred, with accompanying papers, to the Committee on Foreign Relations and ordered to be printed; and that the President's message be printed in the Record.
The PRESIDING OFFICER. Without objection, it is so ordered.
The message of the President is as follows:
To the Senate of the United States:
I transmit herewith, for the advice and consent of the Senate to its ratification, the Protocol Amending the Convention between the United States of America and New Zealand for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion With Respect to Taxes on Income, signed on December 1, 2008, at Washington (the ``proposed Protocol''). I also transmit for the information of the Senate the report of the Department of State, which includes an Overview of the proposed Protocol.
The proposed Protocol provides for the elimination of withholding taxes on certain cross-border direct dividend payments and on cross-
border interest payments to certain financial enterprises. The proposed Protocol reduces the existing Convention's 10-percent limit on withholding taxes on cross-border payments of royalties to 5 percent.
The proposed Protocol contains a comprehensive provision designed to prevent ``treaty shopping,'' which is the inappropriate use of a tax treaty by third-country residents. The proposed Protocol also provides for the exchange of information between tax authorities of the two countries to facilitate the administration of each country's tax laws.
I recommend that the Senate give early and favorable consideration to the proposed Protocol and give its advice and consent to ratification.
Barack Obama. The White House, June 16, 2009.
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