Congress Mulls Treaty-Like Tax Benefits for Taiwan

Top members of the House Ways and Means and Senate Finance committees said they are working to quickly provide significant treaty-like benefits through the tax code to strengthen the economic partnership between the US and Taiwan.

“Addressing cross-border economic burdens currently faced by American and Taiwanese businesses is urgent and requires the expertise of the tax-writing Committees in Congress,” they said in a Wednesday statement. “Taiwan’s unique status precludes it from the typical process of remedying double taxation through a treaty; therefore, Congress should amend the tax code to reduce the burden on U.S.-Taiwan cross-border investment.”

• Double taxation has stymied ...