The new protocol amending the tax treaty between the United States of America and the kingdom of Spain

Last 14 January 2013, the Protocol (hereinafter referred to as the «new Protocol») amending the Convention between the United States of America and the Kingdom of Spain (hereinafter referred to as the «US», «Spain» or collectively as the «Contracting States») for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income (hereinafter referred to as the «Tax Treaty») was signed in Madrid.
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The ratification process will now start in both countries, however, it is always complex to predict when this process will be completed (the ratification process of the existing Tax Treaty took ten months in 1990) and, hence, when these modifications will enter into force and have effects.&nbsp,