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United States-Taiwan Expedited Double-Tax Relief Act
1/31/2024, 4:41 AM
Congressional Summary of HR 5988
United States-Taiwan Expedited Double-Tax Relief Act
This bill establishes special rules for the taxation of residents of Taiwan with income from sources within the United States. This includes the reduction of the rate of withholding of taxes, the application of permanent establishment rules, treatment of income from employment, and the determination of the residency of citizens of Taiwan.
Read the Full Bill
Current Status of Bill HR 5988
Bill HR 5988 is currently in the status of Bill Introduced since October 19, 2023. Bill HR 5988 was introduced during Congress 118 and was introduced to the House on October 19, 2023. Bill HR 5988's most recent activity was Placed on the Union Calendar, Calendar No. 249. as of December 12, 2023
Bipartisan Support of Bill HR 5988
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
33Democrat Cosponsors
12Republican Cosponsors
21Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 5988
Primary Policy Focus
TaxationPotential Impact Areas
- Administrative law and regulatory procedures
- Asia
- Congressional oversight
- Department of the Treasury
- Immigration status and procedures
- Income tax rates
- Taiwan
- Taxation of foreign income
Alternate Title(s) of Bill HR 5988
United States-Taiwan Expedited Double-Tax Relief Act
United States-Taiwan Tax Agreement Authorization Act
United States-Taiwan Expedited Double-Tax Relief Act
United States-Taiwan Expedited Double-Tax Relief Act
To amend the Internal Revenue Code of 1986 to provide special rules for the taxation of certain residents of Taiwan with income from sources within the United States.
Comments
Sponsors and Cosponsors of HR 5988
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