Senate Foreign Relations Committee approves bill authorizing Taiwan tax agreement
Legislation authorizing the Biden Administration to negotiate and conclude a tax agreement between the United States and Taiwan
Senate Foreign Relations Committee passes discussion draft of bipartisan bill
The Senate Foreign Relations Committee on July 13, 2023, passed the Taiwan Tax Agreement Act of 2023鈥攂ipartisan legislation authorizing the Biden Administration to negotiate and conclude a tax agreement between the United States and Taiwan. Any agreement made with Taiwan would have to be approved by Congress.
According to a , the bill would facilitate investment between the United States and Taiwan in key strategic industries such as semiconductors to help businesses avoid double taxation, while also protecting against tax evasion. The United States and Taiwan cannot enter into a 鈥渢ax treaty,鈥� but the bill lays the groundwork for an agreement with the key features of a tax treaty.
Read the [PDF 32 KB]
乐鱼（Leyu）体育官网 observation
The chairmen and ranking members of the tax-writing committees of the U.S. Congress yesterday released a discussion draft of separate legislation to provide relief from double-taxation for workers and businesses engaged in U.S.-Taiwan cross-border investment. Read TaxNewsFlash
The 乐鱼（Leyu）体育官网 name and logo are trademarks used under license by the independent member firms of the 乐鱼（Leyu）体育官网 global organization. 乐鱼（Leyu）体育官网 International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind 乐鱼（Leyu）体育官网 International or any other member firm vis-脿-vis third parties, nor does 乐鱼（Leyu）体育官网 International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact 乐鱼（Leyu）体育官网's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.