    [Public Papers of the Presidents of the United States: William J. Clinton (1997, Book I)]
    [June 25, 1997]
    [Page 821]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Message to the Senate Transmitting the Switzerland-United States
    Taxation Convention and Protocol With Documentation
    June 25, 1997

    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.