Minister Alberto van Klaveren applauds U.S. Senate's approval of double taxation avoidance agreement with Chile

After 13 years since it was signed, this afternoon the full U.S. Senate ratified the Double Taxation Avoidance Agreement between Chile and the United States. With this, a very important step was taken for this agreement that will promote investment by residents of one country in the other, trade in services between the two countries and the transfer of technology.

The agreement was signed in 2010 with the purpose of promoting and facilitating trade and investment, through measures that seek to avoid double taxation, improve information channels between tax authorities of both countries and prevent tax evasion in both Chile and the United States.

The agreement had been ratified by our country in 2015 and last June 1st was approved by the U.S. Senate Foreign Relations Committee. Now the document must return to Chile for the final formalities for its entry into force.

"This agreement is going to represent an incentive for U.S. companies to invest in sectors that are innovation sectors, in the case of Chile energy sectors, service sectors, etc.," said Foreign Affairs Minister Alberto van Klaveren after the approval.

"We had the opportunity to meet with several senators on the occasion of the vote. Obviously, we have been grateful for the sustained support of the U.S. Senate in a very broad, very majority vote for this important agreement", the Minister pointed out.