811.512358 Double/36

Press Release Issued by the Department of State, March 23, 1939

A convention between the United States and Sweden for the avoidance of double income taxation was signed at 4 p.m. on March 23, 1939, by Mr. Sumner Welles, Acting Secretary of State, and Mr. W. Boström, Minister of Sweden at Washington.

This convention is the first of a new series of income tax conventions which this Government hopes to conclude in a program to relieve American business interests and investors of the burdens of international double taxation. The convention provides likewise for the relief of Swedish enterprises and investors in the United States from taxation on the same investments on which they are taxed in Sweden. The convention also contains provisions for assistance by each country to the other country in the prevention of fiscal evasion.