Taiwan Tax Agreement Act of 2023

This bill authorizes the U.S. President to negotiate a tax agreement with Taiwan through the American Institute in Taiwan (AIT). It would create a formal tax treaty to prevent double taxation and reduce tax evasion for U.S. businesses and taxpayers operating with Taiwan, directly benefiting companies engaged in cross-border trade and investment. The agreement must follow standard U.S. tax convention rules (like the 2016 Model Convention) and requires congressional approval via a specific concurrent resolution before taking effect. The bill does not finalize the treaty but establishes the process for negotiation and U.S. approval.