Events
Protocol to the U.S.-Danish Income Tax Convention Signed
Danish Taxation Ministry
May 2, 2006
At a ceremony at the Danish Ministry of Taxation on May 2, 2006, Ambassador Cain and Minister of Taxation, Kristian Jensen, signed a protocol to the U.S.-Danish Income Tax Convention. This means that Danish companies with subsidiaries in the U.S. can, under certain circumstances, be exempted from paying American Withholding Tax.
Several representatives from the business community were present at the ceremony and expressed great satisfaction with the agreement. Also present at the ceremony were the directors of the Danish American Business Forum and the American Chamber of Commerce in Denmark.
In connection with the signing of the agreement, Ambassador Cain stated: ” The great relationship between Denmark and the United States is built on our common values, our determination to improve the world and on our strong commercial relations. This agreement can contribute to an increase in trade and investment between our two nations.”
Minister of Taxation Kristian Jensen stated: ”I appreciate U.S. willingness to accept this amendment to the existing agreement. [...] The relationship between Denmark and the United States is strong, and I hope that this agreement can contribute to make the bonds even stronger.”
The agreement will take effect when it has been passed by the Danish ”Folketing” and the American Congress.