Streamline taxation policy for Taiwanese residents and businesses?

Economy and Taxation
United States-Taiwan Expedited Double-Tax Relief Act (H.R. 33)
This bill has Passed the House of Representatives
Bill Summary

H.R. 33 would modify taxation rules for Taiwanese residents and businesses that earn income in the United States. The U.S. has not had a tax treaty with Taiwan since it revoked its recognition in 1979. The bill would provide Taiwanese residents and businesses in the U.S. the benefits of the 2016 Model Income Tax Convention which makes conducting U.S. Taiwanese business easier such as reduced withholding taxes. Sponsor: Rep. Jason Smith (Republican, Missouri, District 8)
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Opponents say

•      At the time of research and publication, no official opposing statements have been identified. This does not mean that nobody opposes the bill, nor does it mean that opposing statements will not be made in the future.

Proponents say

•     "Double-taxing American and Taiwanese businesses and workers stifles production, innovation, and growth. In order to compete with China and maintain our economic prowess, our alliance with Taiwan, specifically pertaining to trade, business, and economic interests, must be strengthened. This bill helps ease an undue burden on businesses and workers, allowing them to streamline operations and bolster production. Should this legislation pass, not only will production improve, but so will trade, which is critical for key products like semiconductor chips. In realizing the need for the double tax to end and our need for economic strength, I call on Congress to pass this critical piece of legislation." Source: Javier Palomarez, President & CEO of the United States Hispanic Business Council

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