Finance Plans Taiwan Tax Bill Action

The leaders of the Senate Finance Committee announced that the panel will mark up tax legislation to strengthen economic ties with Taiwan when Congress returns in September from the August recess.

Committee Chairman Ron Wyden (D-Ore) and ranking Republican Mike Crapo (R-Idaho) said they plan to put bipartisan legislation before the panel in September.

The legislation will address double taxation and encourage more cross-border investment, in the absence of a tax treaty. It also will help US businesses operate in the Taiwan market, given the first agreement recently reached on the bilateral Initiative on 21st Century Trade.