|The White House
President George W. Bush
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For Immediate Release
Office of the Press Secretary
November 10, 2005
Message to the Senate of the United States
TO THE SENATE OF THE UNITED STATES:
I transmit herewith for the advice and consent of the Senate to ratification, a Protocol Amending the Convention Between the Government of the United States of America and the Government of Sweden for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income signed at Washington on September 30, 2005 (the "Protocol"). Also transmitted for the information of the Senate is the report of the Department of State with respect to the Protocol.
The Protocol eliminates the withholding tax on certain cross border dividend payments. The proposed Protocol is one of a few recent U.S. tax agreements to provide for the elimination of the withholding tax on dividends arising from certain direct investments. In addition, the Protocol also modernizes the Convention to bring it into closer conformity with current U.S. tax-treaty policy, including strengthening the treaty's provisions preventing so-called treaty shopping.
I recommend that the Senate give early and favorable consideration to this Protocol and that the Senate give its advice and consent to ratification.
GEORGE W. BUSH
THE WHITE HOUSE,
November 10, 2005.
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