Finance Committee files report on Taiwan double-taxation relief bill
U.S. Senate Finance Committee filed its report of the “United States-Taiwan Expedited Double-Tax Relief Act”
Finance Committee files report on Taiwan double-taxation relief bill
The U.S. Senate Finance Committee today filed its report of the “United States-Taiwan Expedited Double-Tax Relief Act.”
The legislation was unanimously approved by the Senate Finance Committee on September 14, 2023. Read TaxNewsFlash
The bill has not yet been scheduled for floor action.
Read text [PDF 68 KB] of the bill
Read Finance Committee report [PDF 359 KB] of the bill
Read a related press release
Background
The chairmen and ranking members of the tax-writing committees of the U.S. Congress on July 13, 2023, released a discussion draft of legislation to provide relief from double-taxation for workers and businesses engaged in U.S.-Taiwan cross-border investment. Read TaxNewsFlash
Taking a different approach, the Senate Foreign Relations Committee on July 13, 2023, passed the “Taiwan Tax Agreement Act of 2023”—bipartisan 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. Read TaxNewsFlash
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