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US-Taiwan Tax Relief: Easing Burdens for Businesses and Individuals

This act aims to reduce double taxation of income between the United States and Taiwan. It introduces special tax rules for Taiwan residents earning income in the US, which can facilitate business operations and investments, and impact the amount of taxes paid by individuals.
Key points
Lower withholding tax rates for interest, dividends, and royalties from the US for qualified Taiwan residents (typically 10-15%).
US tax exemption for certain wages and income of entertainers/athletes from Taiwan (up to $30,000 annually).
Simplified tax rules for Taiwan companies operating in the US through permanent establishments.
Authorizes the US President to negotiate and enter into a comprehensive tax agreement with Taiwan in the future.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_5988
Sponsor: Rep. Smith, Jason [R-MO-8]
Process start date: 2023-10-25
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

United States-Taiwan Expedited Double-Tax Relief Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5988.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-10-25.

What are the main provisions?

Key points include:

  • Lower withholding tax rates for interest, dividends, and royalties from the US for qualified Taiwan residents (typically 10-15%).
  • US tax exemption for certain wages and income of entertainers/athletes from Taiwan (up to $30,000 annually).
  • Simplified tax rules for Taiwan companies operating in the US through permanent establishments.
  • Authorizes the US President to negotiate and enter into a comprehensive tax agreement with Taiwan in the future.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Smith, Jason [R-MO-8].

What is the latest detailed status?

The latest detailed status is: Placed on the Union Calendar, Calendar No. 249.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Taxes Economy