H.R. 33, titled the "United States-Taiwan Expedited Double-Tax Relief Act," aims to amend the Internal Revenue Code to introduce special tax rules for certain residents of Taiwan who earn income from sources in the United States. The bill outlines lower withholding rates on specific types of...
Simple Explanation
The "United States-Taiwan Expedited Double-Tax Relief Act" is a special rule that helps certain people from Taiwan who earn money in the US by lowering the amount of money they have to give to the government in taxes, making it easier for them to do business here. This law also wants the US and Taiwan to make an agreement so they don't end up paying taxes on the same income in both countries.