[Weekly Compilation of Presidential Documents Volume 32, Number 1 (Monday, January 8, 1996)]
[Pages 9-10]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Message to the Congress Transmitting the Netherlands-United States Tax 
Protocol

January 3, 1996

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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