[Weekly Compilation of Presidential Documents Volume 33, Number 26 (Monday, June 30, 1997)]
[Page 967]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Message to the Senate Transmitting the Swiss Confederation-United States 
Tax Convention and Protocol

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.