The bill S. 199 aims to amend the Internal Revenue Code of 1986 to introduce special tax rules for certain residents of Taiwan who earn income from sources within the United States. It proposes changes to lower tax rates and withholding requirements on specific types of...
Simple Explanation
S. 199 is a bill that tries to make it easier for people living in Taiwan who earn money from the United States to pay less tax and avoid paying taxes twice on the same money. It also suggests plans for the U.S. and Taiwan to make an agreement to ensure fair tax treatment for both sides.