On 27 June 2014, the Spanish government approved the draft law ratifying the pending protocol to the 1990 tax treaty with the U.S. The protocol was signed 14 January 2013, and includes several amendments to the treaty. The key amendments include: Article 5 - Permanent Establishment The period for a permanent establishment due to a building, construction or installation project, or installation, drilling rig, or ship used for exploration of natural resources is extended from 6 months to 12 months Article 10 – Dividends Withholding tax on dividends is reduced from 10% to 5% when paid to a beneficial owner...