HB4729: Taiwan Tax Agreement Act of 2023
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To authorize negotiation and conclusion and to provide for congressional consideration of a tax agreement between the American Institute in Taiwan (AIT) and the Taipei Economic and Cultural Representative Office (TECRO).
Plain-language summary
This bill authorizes the U.S. to negotiate and finalize a tax agreement with Taiwan through their representative offices in each country. The American Institute in Taiwan (AIT) represents U.S. interests in Taiwan, while the Taipei Economic and Cultural Representative Office (TECRO) represents Taiwan's interests here. A tax agreement would clarify how income and other taxes are handled for people and businesses operating in both places. The bill requires Congress to review and consider any final agreement before it takes effect. The bill was recently introduced and is in early legislative stages.
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HB4729: Taiwan Tax Agreement Act of 2023
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Sponsors
Gerald Connolly
Primary SponsorCo-sponsors (19)
Michael McCaul
Gregory Meeks
Garland Barr
Ami Bera
Guy Reschenthaler