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Taiwan Tax Agreement Act: Authorizing Negotiation to End Double Taxation.

This Act authorizes the President to negotiate and conclude a tax agreement with Taiwan aimed at eliminating double taxation on income. For citizens and businesses operating in both jurisdictions, this means potential financial savings and easier cross-border operations. The agreement must also include mechanisms to prevent tax evasion and avoidance.
Key points
Tax relief: Citizens and businesses will avoid paying income tax twice (in the US and Taiwan) on the same earnings.
Support for trade and investment: Facilitates capital flow and strengthens economic relations between the US and Taiwan.
Fraud protection: The agreement must include measures designed to limit the risk of tax evasion and avoidance.
Congressional approval required: The final agreement will only take effect after formal approval by the US Congress.
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Expired
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Additional Information
Print number: 118_S_1457
Sponsor: Sen. Menendez, Robert [D-NJ]
Process start date: 2023-05-04
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Taiwan Tax Agreement Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_1457.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-05-04.

What are the main provisions?

Key points include:

  • Tax relief: Citizens and businesses will avoid paying income tax twice (in the US and Taiwan) on the same earnings.
  • Support for trade and investment: Facilitates capital flow and strengthens economic relations between the US and Taiwan.
  • Fraud protection: The agreement must include measures designed to limit the risk of tax evasion and avoidance.
  • Congressional approval required: The final agreement will only take effect after formal approval by the US Congress.
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 Sen. Menendez, Robert [D-NJ].

What is the latest detailed status?

The latest detailed status is: Placed on Senate Legislative Calendar under General Orders. Calendar No. 151.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Taxes Economy