REP LIEU PRAISES TAX BILL’S AGREEMENT TO MITIGATE TAIWAN DOUBLE TAXATION

WASHINGTON – Today, Congressman Ted W. Lieu (D-Los Angeles County) issued the following statement after the House passed  H.R. 7024, Tax Relief for American Families and Workers Act of 2024, which included provisions authorizing the United States to enter into tax agreements with Taiwan. The provisions help to mitigate double taxation for businesses and individuals.

“Taiwan is a valuable economic partner to the United States and it’s important that we continue to foster a strong relationship. The U.S. has double tax agreements with other allies, which serve to prevent duplicative taxing of foreign businesses operating in the U.S. and vice versa. Taiwan, a meaningful trade partner to the U.S., should enjoy those same benefits. I was pleased to support this bill, and particularly the provisions strengthening economic ties with Taiwan.”

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