U.S. TO END NETHERLANDS ANTILLES TAX TREATY The Treasury Department said it notified the Netherlands that it was terminating the 1948 income tax treaty as it applies to the Netherlands Antilles and Aruba. The termination is effective January 1, 1988, the Treasury said in a two-sentence announcement. The Treasury decided to end the treaty after negotiations between the United States and the Netherlands over the past eight years had failed to reach an accord, a Treasury spokesman said. The decision means the sale by U.S. parent companies of Eurobonds through Netherlands Antilles subsidiaries will no longer be free of the 30 pct U.S. withholding tax, the spokesman said. Terminating the tax treaty with the Netherlands Antilles may cause bond issuers to call in the bonds early. Most have maturities of 10 years or less and were issued before 1984, the spokesman said. He said the Treasury did not expect the action to have an adverse effect on U.S. issuers of the bonds because the general decline in interest rates means they will be able to refinance at lower interest rates. However, the holders of the bonds presumably will be faced with lower yields.