[Weekly Compilation of Presidential Documents Volume 35, Number 38 (Monday, September 27, 1999)]
[Page 1788]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Message to the Senate Transmitting the Italy-United States Tax 
Convention With Documentation

September 21, 1999

To the Senate of the United States:

    I transmit herewith for Senate advice and consent to ratification 
the Convention Between the Government of the United States of America 
and the Government of the Italian Republic for the Avoidance of Double 
Taxation with Respect to Taxes on Income and the Prevention of Fraud or 
Fiscal Evasion, signed at Washington on August 25, 1999, together with a 
Protocol. Also transmitted are an exchange of notes with a Memorandum of 
Understanding and the report of the Department of State concerning the 
Convention.
    This Convention, which is similar to tax treaties between the United 
States and other developed 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 resolution of disputes and 
sets forth rules making its benefits unavailable to residents that are 
engaged in treaty-shopping or certain abusive transactions.
    I recommend that the Senate give early and favorable consideration 
to this Convention and that the Senate give its advice and consent to 
ratification.
                                            William J. Clinton
The White House,
September 21, 1999.