Page:United States Statutes at Large Volume 47 Part 2.djvu/995

DOUBLE INCOME TAX-SHIPPING PROFITS-SPAIN. (Translation] No. 84-15 MR. SECRETARY: ROYAL SPANISH EMBASSY 'VASHINGTON, April 16, 1930. I have the honor to refer to Your Excellency's kind note of the 5th instant relative to the exemption from taxation in the United States on revenue derived from operations of Spanish vessels, ~ving me a transcript of the communication which had been receIved in the matter from the Treasury Department, points of which were quoted thereunder. . It is a satisfaction for me to be able to express to Your Excellency the pleasure with which I have seen that the recent statements of the Spanish Minister of Finance, expressed in my note of February 11, 1930, ac('ord with the proposals which the American Secretary of the Treasury was good enough to make in the letter of August 2, 1929 which he addressed to the Compaiila TrasatIantica, through my intermediary. In view of the foregoing, I request Your Excellency to be so good 8S to give the appropriate instructions to the corresponding authori- ties in order that they may take into account this decision with respect to the Spanish Shipping Companies in the sense that the profits of Spanish citizens which consist exclusively in earnings derived from vessels documented in Spain shall be exempt from taxation in the United States by the laws of this country, and particularly with respect to that set forth by Your Excellency in your note of September 26, 1929, regarding the case of the Compaiifa Trasatlantica. As soon 8S I received the above-mentioned note of the 5th of the current month of April from Your Excellency, I hastened to transmit the correspondence in copy to the Ministry of State at Madrid, and while I await a reply, it is my pleasing duty to express to Your Excellency my gratitude for the good will which from the beginning I have been able to value, both in the Treasury Department and in the Department under Your Excellency'S worthy direction, to arrive at a favorable solution of this matter, which cannot do less than strengthen the good relations existing between our two countries. I avail myself [etc.] ALEJANDRO PADILLA HONORABLE ..T . P . COTTON, Secretary ofState, Department of State, 'Washington, D. O . The Secretary of State to the Spanish Ambassador EXCELLENCY: DEPARTMENT OF STATE WASHINGTON, June 10, 1930. 2585 I have the honor to refer to previous correspondence concerning I Agreementb)'UDlted the desire of Spanish nationals to be exempted from income taxation State6. in this country on revenue derived from the operation of Spanish' ships and to inform you that a communication in the matter has been received from the Treasury Department, the pertinent portions of which are quoted hereunder: "Under date of March 31, 1930, this office expressed the opinion Vol. 42 ._p. _; Vol. that Sf m · mtth . I tie •• fth R 43,]).2011; VoL" .p .26; a ee s e reClproca exemp on prOViSIons 0 e evenue Vol. 45 , p. 847. Acts 0 1921, 1924, and 1926, and stated that accordingly the income of Spanish nationals which consists exclusively of earnings derived