US and Spain Sign Protocol to Amend Existing Tax Treaty
On January 14, 2013, the US and Spain signed a protocol that would amend the existing income tax treaty and protocol, making the US-Spain treaty more similar to US treaties with other major EU member states. The amended treaty, if and when ratified and entered into force, would require each country to reduce its current tax in many cases on the interest, royalty, and direct investment dividend income of residents of the other country.
Please see this analysis for more information. Interested in existing US tax treaties and those awaiting amendments? Please see this November 2012 status report and, of course, the IRS Tax Treaty A-Z website.