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118th Congress International Affairs

S. 1457: Taiwan Tax Agreement Act of 2023

ReportedJul 25, 2023

  1. Introduced (completed)May 4, 2023
  2. Passed Senate (not reached)
  3. Passed House (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Reported to Senate, Jul 25, 2023

This bill authorizes the United States to enter into a tax agreement with Taiwan.

Specifically, the President may, through the American Institute in Taiwan (AIT), negotiate and enter into a tax agreement with the Taipei Economic and Cultural Representative Office (TECRO). (The U.S.-Taiwan relationship is unofficial; TECRO is Taiwan's principal representative office in the United States, while the AIT, a private corporation, performs many of the same functions as U.S. embassies elsewhere.)

The agreement must address issues including (1) the taxation of tax residents of Taiwan, the United States, or both; (2) relief from double taxation; and (3) protection against tax evasion or avoidance. The agreement must conform with the 2016 U.S. Model Income Tax Convention and other customary U.S. bilateral income tax convention terms.

Read the full summary

The bill requires the President to notify Congress 15 days before negotiations begin and provide periodic briefings. The Department of the Treasury must brief Congress upon request and provide timely updates during the course of negotiations.

The negotiated agreement may only take legal effect upon submission of the agreement to Congress and the approval of a concurrent resolution in a form prescribed by the bill. The agreement, once in force, must be afforded the same treatment as a treaty under U.S. law.

Written by the Congressional Research Service, Library of Congress.

Roll calls

0 votes on this bill

No roll call votes have been held on this bill.

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

16

Bipartisan support.

Who scored on this bill

26 points earned
  1. 1Robert Menendez D-NJ SponsorDrew cross-party cosponsors, introduced, reported3 events+26
See all scorers and every scoring event

Introductions and cosponsorships count toward weekly caps and show no points.

Other bills by Robert Menendez

History

  1. May 4, 2023Introduced in the Senate by Robert Menendez.
Show the full action history (5 actions)
  1. Jul 25, 2023Committee on Foreign Relations. Reported by Senator Menendez with an amendment in the nature of a substitute. Without written report.
  2. Jul 25, 2023Placed on Senate Legislative Calendar under General Orders. Calendar No. 151.
  3. Jul 13, 2023Committee on Foreign Relations. Ordered to be reported with an amendment in the nature of a substitute favorably.
  4. May 4, 2023Introduced in Senate
  5. May 4, 2023Read twice and referred to the Committee on Foreign Relations.