Taiwan Tax Agreement Act of 2023
Latest action · Jul 25, 2023 Placed on Senate Legislative Calendar under General Orders. Calendar No. 151.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 4, 2023
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Taiwan Tax Agreement Act of 2023
This bill authorizes the United States to enter into a tax agreement with Taiwan.
Specifically, the President may, through the American Institute in Taiwan (AIT), negotiate and enter into a tax agreement with the Taipei Economic and Cultural Representative Office (TECRO). (The U.S.-Taiwan relationship is unofficial; TECRO is Taiwan's principal representative office in the United States, while the AIT, a private corporation, performs many of the same functions as U.S. embassies elsewhere.)
The agreement must address issues including (1) the taxation of tax residents of Taiwan, the United States, or both; (2) relief from double taxation; and (3) protection against tax evasion or avoidance. The agreement must conform with the 2016 U.S. Model Income Tax Convention and other customary U.S. bilateral income tax convention terms.
The bill requires the President to notify Congress 15 days before negotiations begin and provide periodic briefings. The Department of the Treasury must brief Congress upon request and provide timely updates during the course of negotiations.
The negotiated agreement may only take legal effect upon submission of the agreement to Congress and the approval of a concurrent resolution in a form prescribed by the bill. The agreement, once in force, must be afforded the same treatment as a treaty under U.S. law.
Cosponsors 16
Members who signed on, in the order they did. Signatures ran from May 4, 2023 to Jun 22, 2023; 3 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MD | Chris Van Hollen | Original | May 4, 2023 |
| R-ID | James E. Risch | Original | May 4, 2023 |
| R-UT | Mitt Romney | Original | May 4, 2023 |
| D-DE | Christopher A. Coons | Jun 21, 2023 | |
| R-AK | Dan Sullivan | Jun 21, 2023 | |
| D-NH | Jeanne Shaheen | Jun 21, 2023 | |
| D-OR | Jeff Merkley | Jun 21, 2023 | |
| R-SC | Lindsey Graham | Jun 21, 2023 | |
| R-AK | Lisa Murkowski | Jun 21, 2023 | |
| R-FL | Marco Rubio | Jun 21, 2023 | |
| R-NE | Pete Ricketts | Jun 21, 2023 | |
| R-FL | Rick Scott | Jun 21, 2023 | |
| R-MS | Roger F. Wicker | Jun 21, 2023 | |
| D-IL | Tammy Duckworth | Jun 21, 2023 | |
| D-VA | Tim Kaine | Jun 21, 2023 | |
| R-TN | Bill Hagerty | Jun 22, 2023 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Foreign Relations Committee | Referred May 4, 2023Markup Jul 13, 2023Reported Jul 25, 2023 |
Actions 5
Everything that happened, newest first.
- Jul 25, 2023Committee on Foreign Relations. Reported by Senator Menendez with an amendment in the nature of a substitute. Without written report.
- Jul 25, 2023Placed on Senate Legislative Calendar under General Orders. Calendar No. 151.
- Jul 13, 2023Committee on Foreign Relations. Ordered to be reported with an amendment in the nature of a substitute favorably.
- May 4, 2023Introduced in Senate
- May 4, 2023Read twice and referred to the Committee on Foreign Relations.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Congressional Budget Office cost estimate
- Aug 10, 2023S. 1457, Taiwan Tax Agreement Act of 2023As reported by the Senate Committee on Foreign Relations on July 25, 2023
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 4729 | Taiwan Tax Agreement Act of 2023 | Related bill | Jul 19, 2023 |
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill 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).
- Short Title(s) as Introduced
- Taiwan Tax Agreement Act of 2023
- Short Title(s) as Reported to Senate
- Taiwan Tax Agreement Act of 2023
Subjects
Assigned by the Library of Congress. Policy area: International Affairs.
Text 2
Each version as it was printed, newest first.
- Jul 25, 2023Reported to Senate
- May 4, 2023Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
