[Congressional Record Volume 142, Number 1 (Wednesday, January 3, 1996)]
[Senate]
[Page S28]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




REMOVAL OF INJUNCTION OF SECRECY--TAX PROTOCOL WITH THE KINGDOM OF THE 
                  NETHERLANDS (TREATY DOC. NO. 104-23)

  Mr. COCHRAN. Mr. President, as in executive session, I ask unanimous 
consent that the injunction of secrecy be removed from the Tax Protocol 
for the Kingdom of the Netherlands (Treaty Document No. 104-23), 
transmitted to the Senate by the President on January 3, 1996; and ask 
that the treaty be considered as having been read the first time; that 
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 Senate advice and consent to ratification, 
the Protocol between the Government of the United States of America and 
the Government of the Kingdom of the Netherlands in Respect of the 
Netherlands Antilles Amending Article VIII of the 1948 Convention with 
Respect to Taxes on Income and Certain Other Taxes as Applicable to the 
Netherlands Antilles, signed at Washington on October 10, 1995. Also 
transmitted for the information of the Senate is the report of the 
Department of State with respect to the Protocol.
  The Protocol amends Article VIII (1) of the Convention to limit the 
exemption from U.S. taxation of interest on debt instruments to 
interest paid on instruments issued on or before October 15, 1984, by a 
U.S. person to a related controlled foreign corporation that was in 
existence before October 15, 1984.
  I recommend that the Senate give early and favorable consideration to 
the Protocol, and give its advice and consent to ratification.
                                                  William J. Clinton.  
  The White House, January 3, 1996.

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