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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.

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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
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
33
Democrat Cosponsors
12
Republican Cosponsors
21
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 5988

Primary Policy Focus

Taxation

Potential 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

Jason Smith
Jason Smith
MissouriRepublican
Brad R. Wenstrup
Brad R. Wenstrup
OhioRepublican
Beth Van Duyne
Beth Van Duyne
TexasRepublican
Claudia Tenney
Claudia Tenney
New YorkRepublican
Mikie Sherrill
Mikie Sherrill
New JerseyDemocrat
Lloyd Smucker
Lloyd Smucker
PennsylvaniaRepublican

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