United States-Taiwan Expedited Double-Tax Relief Act

House Bill 5988 - United States-Taiwan Expedited Double-Tax Relief Act: Overview, Status, and Impact

Hozzl · 2024-01-31T04:41:15Z

Explore the details of House Bill 5988 United States-Taiwan Expedited Double-Tax Relief Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

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

Formatted Text PDF Formatted XML

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

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

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

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.