Summary From AI
The Taiwan Tax Agreement Act of 2023 authorizes the U.S. to negotiate a tax agreement with Taiwan, facilitated through the American Institute in Taiwan (AIT) and the Taipei Economic and Cultural Representative Office (TECRO). This agreement aims to address taxation for residents of both Taiwan and the U.S., provide relief from double taxation, and protect against tax evasion. It must align with the 2016 U.S. Model Income Tax Convention and requires Congressional notification and approval before taking effect. The bill emphasizes the importance of maintaining a structured and transparent negotiation process between the U.S. and Taiwan.
Tracker
- Introduced
Actions
Committee on Foreign Relations. Reported by Senator Menendez with an amendment in the nature of a substitute. Without written report.
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