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2024-10-29
On the announcement from the U.S. Department of the Treasury on October 29, 2024 regarding the issue of Taiwan-U.S. double taxation, the Ministry of Finance (MOF) welcomes the United States’ proactive action to address this issue and expresses gratitude for the long-term support from the U.S. executive branch and the U.S. Congress in promoting an agreement for avoidance of double taxation between Taiwan and the U.S.
The MOF explains that, the United States is one of Taiwan's major trade and investment partners. Signing an ADTA will eliminate tax barriers to bilateral investment and trade activities, which is expected to bring mutual benefits to Taiwan-U.S. bilateral investment relations. Relevant benefits include enabling Taiwanese enterprises to obtain equal tax treatment in the United States compared to enterprises of other countries which have tax agreements with the United States, attracting more U.S. enterprises to invest in Taiwan, and strengthening the resilience of the supply chains in key industries.
The MOF emphasizes that, in recent years, Taiwan's relevant agencies have continuously communicated with the U.S. executive branch and the U.S. Congress to address excess tax burdens and double taxation issues concerned by the people and businesses of both sides. The MOF and the U.S. Department of the Treasury begin discussions on issues related to the ADTA, while the U.S. Congress is also actively promoting the proposal of the "United States-Taiwan Expedited Double-Tax Relief Act." The MOF sincerely appreciates the proactive steps taken by the U.S. executive branch and the U.S. Congress to address the double taxation issue. While the MOF engages in dialogues with its U.S. counterparts, Taiwan's relevant agencies will continue to collaborate with the U.S. Department of the Treasury and the U.S. Congress to promote related legislation.
Contact person: Ms. Tian-Cin Lin, Section Chief
Contact Number: +886-2-23228150
Source: Ministry of Finance,R.O.C.
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