Taiwan Tax Agreement Act of 2023

The Taiwan Tax Agreement Act of 2023 authorizes the President to negotiate a tax agreement with Taiwan through the American Institute in Taiwan (AIT), aiming to reduce double taxation and prevent tax evasion for U.S. and Taiwanese businesses and investors engaged in cross-border trade and investment. The agreement must follow standard U.S. tax treaty practices (like the 2016 Model Convention), exclude entities based in China or without a U.S. tax treaty, and include anti-evasion measures. Before taking effect, Congress must approve the agreement via a specific concurrent resolution that simply states approval without debate or amendments.