Terminate US-China Tax Treaty if China Attacks Taiwan
This bill proposes to terminate the income tax treaty between the United States and the People's Republic of China if the Chinese military initiates an armed attack against Taiwan. This action would alter the tax rules for income earned between the two countries, potentially impacting businesses and individuals with financial ties to both nations.
Key points
The bill mandates the termination of the US-China Income Tax Convention upon an armed attack on Taiwan by China.
This change could affect tax obligations for US citizens and businesses operating in China, and vice versa.
Status:
Expired
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