Taiwan Tax Treaty Act of 2023

[大海]

Taiwan Tax Treaty Act of 2023
A group of U.S. senators has introduced the Taiwan Tax Treaty Act of 2023 to allow Taiwanese investors to enjoy tax breaks. The senators said this would help increase investment between the United States and Taiwan and eliminate double taxation that currently exists in the relationship between the two countries. Providing tax breaks could incentivize more Taiwanese technology companies to move to the United States and set up shop, including building TSMC's $40 billion factory in Arizona. According to data from the Taipei Ministry of Economic Affairs, Taiwan invested $23.73 billion in the United States between 1952 and 2022, second only to China. Expert analysis shows that the move will increase economic, capital and personnel mobility between the two countries, subvert China's chip manufacturing lithography machines, and shift the focus to technological cooperation and development based on U.S.-led tax-friendly policies.