Taiwan says US tax deal nearly ready despite unclear timing
The Ministry of Finance said the Taiwan-U.S. Agreement to Avoid Double Taxation (ADTA) is just one step away from completion. However, whether it can be signed by year’s end is beyond Taiwan’s control.
On September 14, 2023, the U.S. Senate Finance Committee unanimously passed legislation related to the ADTA. The bill aims to amend U.S. tax law to lower withholding rates on certain U.S.-sourced income for Taiwanese businesses, but also requires Taiwan to provide fully reciprocal treatment for it to take effect.
Over a year later, with a new administration in place and Congress reshuffled, the agreement remains pending. The issue resurfaced Thursday during a meeting of the Legislature’s Finance Committee, where Finance Minister Chuang Tsui-yun (莊翠雲) addressed lawmakers' questions.
When asked by KMT Legislator Lin Te-fu (林德福) whether the agreement could be finalized by the end of the year, Chuang said Taiwan’s Finance Ministry, Foreign Ministry, and represent...
21 hour(s) ago