JS-1267: Treasury Welcomes Senate Approval Of New U.S.-Sri Lanka Tax Treaty



	FROM THE OFFICE OF PUBLIC AFFAIRS March 26, 2004 JS-1267 Treasury Welcomes Senate Approval Of New U.S.-Sri Lanka Tax Treaty The Treasury Department welcomes the March 25^thaction by the Senate approving the income tax treaty between the United States and Sri Lanka. “The U.S.-Sri Lanka tax treaty that has been approved by the Senate represents a new tax treaty relationship for the United States,” said Treasury Secretary Snow. “This tax treaty will expand our economic relations with Sri Lanka, an important trading partner in the developing world, and is an important step in our ongoing efforts to broaden the reach of our tax treaty network.” The U.S.-Sri Lanka tax treaty contains provisions to address tax barriers to trade and investment between the two countries. It also contains administrative provisions, including rules for the resolution of disputes and provisions for the exchange of information on tax matters. The new tax treaty will enter into force when instruments of ratification are exchanged between the two countries. -30-