Title: A resolution expressing the sense of the Senate on the value of a tax agreement with Taiwan
Policy area: International Affairs

Summary:
This resolution recognizes the importance of Taiwan's security and prosperity to the United States' own security and prosperity.
The resolution encourages the President and the House of Representatives to work with the Senate on a congressional-executive agreement to establish an income tax agreement between the United States and Taiwan, consistent with U.S commitments under the Taiwan Relations Act.
Finally, the resolution encourages the President to proactively seek other ways to increase trade, technology, and investment ties between the United States and Taiwan.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 715 Introduced in Senate (IS)]

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117th CONGRESS
  2d Session
S. RES. 715

Expressing the sense of the Senate on the value of a tax agreement with 
                                Taiwan.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 21, 2022

  Mr. Sasse (for himself and Mr. Van Hollen) submitted the following 
  resolution; which was referred to the Committee on Foreign Relations

_______________________________________________________________________

                               RESOLUTION


 
Expressing the sense of the Senate on the value of a tax agreement with 
                                Taiwan.

Whereas Taiwan is a democratic success story, an economic success story, a key 
        part of global technology supply chains, and a close security partner of 
        the United States;
Whereas the United States has pursued a robust unofficial partnership with 
        Taiwan within the context of the current one-China policy of the United 
        States;
Whereas the Taiwan Relations Act (Public Law 96-8) has played an important role 
        in promoting democracy and prosperity in Taiwan, peace and security in 
        the Taiwan Strait, and close relations between the United States and 
        Taiwan since 1979;
Whereas Taiwan is the eighth-largest trading partner of the United States, 
        United States exports of goods and services to Taiwan support at least 
        188,000 American jobs, and Taiwan's cumulative investment in the United 
        States is at least $13,700,000,000;
Whereas the United States has ongoing economic dialogues with Taiwan that cover 
        a range of trade, technology, and investment issues through the Trade 
        and Investment Framework Agreement Council led by the United States 
        Trade Representative, the U.S.-Taiwan Economic Prosperity Partnership 
        Dialogue led by the Department of State, and the Technology, Trade, and 
        Investment Collaboration framework led by the Department of Commerce;
Whereas the Biden Administration announced the ``U.S.-Taiwan Initiative on 21st 
        Century Trade'' on June 1, 2022;
Whereas the United States has income tax treaties with 66 countries, including 
        the People's Republic of China, and has agreements with other parties, 
        including Taiwan, related to taxation, such as facilitating 
        implementation of the Foreign Account Tax Compliance Act;
Whereas Taiwan is the United States largest trading partner with whom we do not 
        have an income tax treaty;
Whereas Taiwan has income tax agreements with 34 countries, including countries 
        that have trade agreements with the United States and do not maintain 
        diplomatic relations with Taiwan;
Whereas the United States signed a transportation income tax agreement with 
        Taiwan in 1988, under the auspices of the American Institute in Taiwan 
        (AIT) and the Coordination Council for North American Affairs, which has 
        since been renamed as the Taipei Economic and Cultural Representative 
        Office (TECRO);
Whereas an income tax agreement between the United States and Taiwan could boost 
        bilateral trade and investment by reducing double taxation and 
        increasing economic efficiency and integration; and
Whereas the American Chamber of Commerce in Taipei in its ``2022 White Paper'' 
        called for the United States and Taiwan to continue exploring an income 
        tax agreement: Now, therefore, be it
    Resolved, That the Senate--
            (1) recognizes the importance of Taiwan's security and 
        prosperity to the United States own security and prosperity;
            (2) encourages the President to begin negotiations on an 
        income tax agreement with Taiwan;
            (3) encourages the President and the House of 
        Representatives to work with the Senate on a congressional-
        executive agreement to establish an income tax agreement 
        between the United States and Taiwan, consistent with United 
        States commitments under the Taiwan Relations Act; and
            (4) encourages the President to proactively seek other ways 
        to increase trade, technology, and investment ties between the 
        United States and Taiwan.
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