US-Bangladesh Tax Treaty

[jaga]

Hello Folks:

Okay tax time again. By any chance do you know what happened to the following treaty? Is it ratified and effectitve this year? What I read from bangladeshi newspaper it would give Bangladeshi students same benefit what Indian students are now enjoying.

I search the IRS site but no update about it. Google search with "US-Bangladesh Tax Treaty" brings lot of info but does not answer the question above.

Thank you in advance for your updates.


Follwing is the link and the text of the treaty:

http://www.treas.gov/press/releases/js1959.htm


September 27, 2004
JS-1959

United States and Bangladesh Sign New Income Tax Treaty

The Treasury Department today announced the signing of a new income tax treaty between the United States and the People's Republic of Bangladesh. The treaty was signed in Dhaka, Bangladesh by Ambassador Harry Thomas, on behalf of the United States, and Khairruzzaman Chowdhury, Secretary of the Internal Resources Division of the Ministry of Finance and Chairman of the National Board of Revenue, on behalf of Bangladesh. This agreement represents another advance in the Treasury Department's ongoing efforts to expand the U.S. tax treaty network by establishing new tax treaty relationships with emerging economies.

Bilateral tax treaties are intended to eliminate tax barriers to cross-border trade and investment between the two countries. They provide greater certainty to taxpayers with respect to the tax treatment of their cross-border activities, reduce the potential for double taxation of income from such activities, and provide mechanisms for the resolution of disputes. The proposed treaty with Bangladesh generally follows the pattern of the U.S. model tax treaty and recent U.S. tax treaties, including recent agreements with other developing countries.

The proposed treaty will be sent to the Senate for its advice and consent to ratification. If the Senate acts favorably and the treaty enters into force, it will represent the first tax treaty in force between the two countries.

A copy of the proposed U.S.-Bangladesh tax treaty, together with a related exchange of notes, is attached.

[Zunaid]

I too have been keeping tabs on this. AFAIK it has not been ratified yet. Does anyone know?