Bipartisan Taiwan Tax Bill Text Issued by Congress’s Tax Writers

Senate and House tax-writers seeking to encourage cross-border business collaboration between Taiwan and the US released bipartisan bill text Thursday outlining their plan to provide treaty-like benefits through the tax code.

“Today is another important step forward toward relieving double-taxation on activity between the U.S. and Taiwan, and supercharging chip manufacturing in America,” said Senate Finance Chair Ron Wyden (D-Ore.) in a release unveiling the text.

• Wyden was joined by Finance ranking member Mike Crapo (R-Idaho), as well as House Ways and Means Chair Jason Smith (R-Mo.) and ranking member Richard Neal (D-Mass.) lauding the introduction.
• The legislation would alleviate ...