On 1 September 2015, the Chilean Senate approved for ratification the pending income and capital tax treaty with the U.S. The Chilean Chamber of Deputies had approved the treaty in September 2014, and it is pending approval in the U.S. The treaty, signed 4 February 2010, is the first of its kind between the two countries. Taxes Covered The treaty covers Chilean taxes imposed under the Income Tax Act, and U.S. federal income taxes (excluding social security and unemployment taxes), Federal excise taxes imposed on insurance premiums paid to foreign insurers, and taxes imposed with respect to private foundations. Residence...