Supporting the ratification of the Chilean tax treaty.

Hozzl · 2023-12-15T15:51:56Z

Explore the details of House Bill 487 Supporting the ratification of the Chilean tax treaty. currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Foreign Trade and International Finance. Stay informed on legislative developments.

12/15/2023, 3:51 PM

Summary of Bill HRES 487

Bill 118 H.Res. 487, also known as the "Supporting the ratification of the Chilean tax treaty" bill, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to express support for the ratification of the tax treaty between the United States and Chile.

The tax treaty between the US and Chile aims to prevent double taxation and promote economic cooperation between the two countries. It outlines the rules for how taxes will be imposed on income earned in one country by residents of the other country. By ratifying this treaty, both the US and Chile hope to create a more favorable environment for cross-border trade and investment.

The bill emphasizes the importance of the US-Chile tax treaty in strengthening the economic relationship between the two countries and promoting mutual prosperity. It also highlights the benefits of the treaty for American businesses operating in Chile and Chilean businesses operating in the US. Overall, Bill 118 H.Res. 487 seeks to show congressional support for the ratification of the tax treaty between the US and Chile, recognizing the positive impact it will have on bilateral economic relations.

Congressional Summary of HRES 487

This resolution recognizes the long-standing United States-Chile partnership. It also (1) reaffirms the importance of expanded bilateral economic ties for advancing the prosperity of both countries, and (2) urges the Senate to provide its advice and consent to ratification of the bilateral tax treaty with Chile.

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Current Status of Bill HRES 487

Bill HRES 487 is currently in the status of Bill Introduced since June 9, 2023. Bill HRES 487 was introduced during Congress 118 and was introduced to the House on June 9, 2023. Bill HRES 487's most recent activity was Referred to the Committee on Foreign Affairs, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. as of June 9, 2023