hp-634: U.S., Iceland Sign New Income Tax Treaty



	To view or print the PDF content on this page, download the free Adobe® Acrobat® Reader®. October 23, 2007 hp-634 U.S., Iceland Sign New Income Tax Treaty Washington, DC-- The Treasury Department announced today that Deputy Secretary Robert M. Kimmitt and Icelandic Finance Minister Árni M. Mathiesen signed a new income tax treaty between the United States and Iceland. In a ceremony held at the Treasury Department, the two officials signed a new tax treaty that brings the existing agreement into closer conformity with current U.S. tax treaty policy. For example, the new treaty contains a comprehensive limitation on benefits provision that is consistent with many recently concluded U.S. tax treaties. The agreement also maintains the existing treaty's withholding tax exemption on cross-border interest payments and as well as the existing treaty's reductions in withholding taxes on cross-border dividend payments. The final version of the treaty is attached. -30- REPORTS U.S.-Iceland Income Tax Treaty