[Congressional Record Volume 143, Number 91 (Wednesday, June 25, 1997)]
[Senate]
[Page S6385]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




      REMOVAL OF INJUNCTION OF SECRECY--TREATY DOCUMENT NO. 105-8

  Mr. GRASSLEY. Mr. President, I ask unanimous consent that the 
injunction of secrecy be removed from the following treaty transmitted 
to the Senate on June 25, 1997, by the President of the United States.
  Tax Convention with Swiss Confederation (Treaty Document No. 105-8.)
  I further 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 
Convention Between the United States of America and the Swiss 
Confederation for the Avoidance of Double Taxation with Respect to 
Taxes on Income, signed at Washington, October 2, 1996, together with a 
Protocol to the Convention. An enclosed exchange of notes with an 
attached Memorandum of Understanding, transmitted for the information 
of the Senate, provides clarification with respect to the application 
of the Convention in specified cases. Also transmitted is the report of 
the Department of State concerning the Convention.
  This Convention, which is similar to tax treaties between the United 
States and other Organization for Economic Cooperation and Development 
(OECD) nations, provides maximum rates of tax to be applied to various 
types of income and protection from double taxation of income. The 
Convention also provides for exchange of information and sets forth 
rules to limit the benefits of the Convention so that they are 
available only to residents that are not engaged in treaty shopping.
  I recommend that the Senate give early and favorable consideration to 
this Convention and give its advice and consent to ratification.
                                                  William J. Clinton.  
  The White House, June 25, 1997.

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