#aaith ,,congress #ast ,session ,h4 ,r4 #cc ,,an ,,act ,to amend the ,internal ,revenue ,code of #aihf to provide special rules for the taxation of certain residents of ,taiwan with income from sources within the ,united ,states4 ,i ,united ,states-,taiwan ,expedited ,double-,tax ,relief ,act #aja4 ,short title ,this title may be cited as the ,united ,states-,taiwan ,expedited ,double-,tax ,relief ,act4 #ajb4 ,special rules for taxation of certain residents of ,taiwan 7a7 ,in general ,subpart ,d of part ,,ii of subchapter ,n of chapter #a of the ,internal ,revenue ,code of #aihf is amended by inserting after section #hid the following new section3 #hid;,a4 ,special rules for qualified residents of ,taiwan 7a7 ,certain income from ,united ,states sources 7#a7 ,interest1 dividends1 and royalties1 etc 7,a7 ,in general ,in the case of interest 7other than original issue discount71 dividends1 royalties1 amounts described in section #hga7;a77#a77;,c71 and gains described in section #hga7;a77#a77;,d7 received by or paid to a qualified resident of ,taiwan-- 7i7 sections #hga7;a71 #hha7;a71 #adda7;a71 #adda7;c77#e71 and #addb7;a7 shall each be applied by substituting the applicable percentage 7as defined in section #hid;,a7a77#a77;,c77 for #cj percent each place it appears1 and 7ii7 sections #hga7;a71 #hha7;a71 and #adda7;c77#a7 shall each be applied by substituting a ,united ,states permanent establishment of a qualified resident of ,taiwan for a trade or business within the ,united ,states each place it appears4 7,b7 ,exceptions 7i7 ,in general ,subparagraph 7,a7 shall not apply to-- 7,i7 any dividend received from or paid by a real estate investment trust which is not a qualified ,,reit dividend1 7,,ii7 any amount subject to section #hig1 7,,iii7 any amount received from or paid by an expatriated entity 7as defined in section #ghgd7;a77#b77 to a foreign related person 7as defined in section #ghgd7;d77#c771 and 7,,iv7 any amount which is included in income under section #hfj;,c to the extent that such amount does not exceed an excess inclusion with respect to a ,,remic4 7ii7 ,qualified ,,reit dividend ,for purposes of clause 7i77,i71 the term qualified ,,reit dividend means any dividend received from or paid by a real estate investment trust if such dividend is paid with respect to a class of shares that is publicly traded and the recipient of the dividend is a person who holds an interest in any class of shares of the real estate investment trust of not more than #e percent4 7,c7 ,applicable percentage ,for purposes of applying subparagraph 7,a77i7-- 7i7 ,in general ,except as provided in clause 7ii71 the term applicable percentage means #aj percent4 7ii7 ,special rules for dividends ,in the case of any dividend in respect of stock received by or paid to a qualified resident of ,taiwan1 the applicable percentage shall be #ae percent 7#aj percent in the case of a dividend which meets the requirements of subparagraph 7,d7 and is received by or paid to an entity taxed as a corporation in ,taiwan74 7,d7 ,requirements for lower dividend rate 7i7 ,in general ,the requirements of this subparagraph are met with respect to any dividend in respect of stock in a corporation if1 at all times during the #ab-month period ending on the date such stock becomes ex-dividend with respect to such dividend-- 7,i7 the dividend is derived by a qualified resident of ,taiwan1 and 7,,ii7 such qualified resident of ,taiwan has held directly at least #aj percent 7by vote and value7 of the total outstanding shares of stock in such corporation4 ,for purposes of subclause 7,,ii71 a person shall be treated as directly holding a share of stock during any period described in the preceding sentence if the share was held by a corporation from which such person later acquired that share and such corporation was1 at the time the share was acquired1 both a connected person to such person and a qualified resident of ,taiwan4 7ii7 ,exception for ,r,i,cs and ,r,e,i,ts ,notwithstanding clause 7i71 the requirements of this subparagraph shall not be treated as met with respect to any dividend paid by a regulated investment company or a real estate investment trust4 7#b7 ,qualified wages 7,a7 ,in general ,no tax shall be imposed under this chapter 7and no amount shall be withheld under section #adda7;a7 or chapter #bd7 with respect to qualified wages paid to a qualified resident of ,taiwan who-- 7i7 is not a resident of the ,united ,states 7determined without regard to subsection 7c77#c77;,e771 or 7ii7 is employed as a member of the regular component of a ship or aircraft operated in international traffic4 7,b7 ,qualified wages 7i7 ,in general ,the term qualified wages means wages1 salaries1 or similar remunerations with respect to employment involving the performance of personal services within the ,united ,states which-- 7,i7 are paid by 7or on behalf of7 any employer other than a ,united ,states person1 and 7,,ii7 are not borne by a ,united ,states permanent establishment of any person other than a ,united ,states person4 7ii7 ,exceptions ,such term shall not include directors' fees1 income derived as an entertainer or athlete1 income derived as a student or trainee1 pensions1 amounts paid with respect to employment with the ,united ,states1 any ,state 7or political subdivision thereof71 or any possession of the ,united ,states 7or any political subdivision thereof71 or other amounts specified in regulations or guidance under subsection 7f77#a77;,f74 7#c7 ,income derived from entertainment or athletic activities 7,a7 ,in general ,no tax shall be imposed under this chapter 7and no amount shall be withheld under section #adda7;a7 or chapter #bd7 with respect to income derived by an entertainer or athlete who is a qualified resident of ,taiwan from personal activities as such performed in the ,united ,states if the aggregate amount of gross receipts from such activities for the taxable year do not exceed #cj1jjj4 7,b7 ,exception ,subparagraph 7,a7 shall not apply with respect to-- 7i7 income which is qualified wages 7as defined in paragraph 7#b77;,b71 determined without regard to clause 7ii7 thereof71 or 7ii7 income which is effectively connected with a ,united ,states permanent establishment4 7b7 ,income connected with a ,united ,states permanent establishment of a qualified resident of ,taiwan 7#a7 ,in general 7,a7 ,in general ,in lieu of applying sections #hga7;b7 and #hhb1 a qualified resident of ,taiwan that carries on a trade or business within the ,united ,states through a ,united ,states permanent establishment shall be taxable as provided in section #a1 #aa1 #ee1 or #ei;,a1 on its taxable income which is effectively connected with such permanent establishment4 7,b7 ,determination of taxable income ,in determining taxable income for purposes of paragraph 7#a71 gross income includes only gross income which is effectively connected with the permanent establishment4 7#b7 ,treatment of dispositions of ,united ,states real property ,in the case of a qualified resident of ,taiwan1 section #hig7;a7 shall be applied-- 7,a7 by substituting carried on a trade or business within the ,united ,states through a ,united ,states permanent establishment for were engaged in a trade or business within the ,united ,states1 and 7,b7 by substituting such ,united ,states permanent establishment for such trade or business4 7#c7 ,treatment of branch profits taxes ,in the case of any corporation which is a qualified resident of ,taiwan1 section #hhd shall be applied-- 7,a7 by substituting #aj percent for #cj percent in subsection 7a7 thereof1 and 7,b7 by substituting a ,united ,states permanent establishment of a qualified resident of ,taiwan for the conduct of a trade or business within the ,united ,states in subsection 7d77#a7 thereof4 7#d7 ,special rule with respect to income derived from certain entertainment or athletic activities 7,a7 ,in general ,paragraph 7#a7 shall not apply to the extent that the income is derived-- 7i7 in respect of entertainment or athletic activities performed in the ,united ,states1 and 7ii7 by a qualified resident of ,taiwan who is not the entertainer or athlete performing such activities4 7,b7 ,exception ,subparagraph 7,a7 shall not apply if the person described in subparagraph 7,a77ii7 is contractually authorized to designate the individual who is to perform such activities4 7#e7 ,special rule with respect to certain amounts ,paragraph 7#a7 shall not apply to any income which is wages1 salaries1 or similar remuneration with respect to employment or with respect to any amount which is described in subsection 7a77#b77;,b77ii74 7c7 ,qualified resident of ,taiwan ,for purposes of this section-- 7#a7 ,in general ,the term qualified resident of ,taiwan means any person who-- 7,a7 is liable to tax under the laws of ,taiwan by reason of such person's domicile1 residence1 place of management1 place of incorporation1 or any similar criterion1 7,b7 is not a ,united ,states person 7determined without regard to paragraph 7#c77;,e771 and 7,c7 in the case of an entity taxed as a corporation in ,taiwan1 meets the requirements of paragraph 7#b74 7#b7 ,limitation on benefits for corporate entities of ,taiwan 7,a7 ,in general ,subject to subparagraphs 7,e7 and 7,f71 an entity meets the requirements of this paragraph only if it-- 7i7 meets the ownership and income requirements of subparagraph 7,b71 7ii7 meets the publicly traded requirements of subparagraph 7,c71 or 7iii7 meets the qualified subsidiary requirements of subparagraph 7,d74 7,b7 ,ownership and income requirements ,the requirements of this subparagraph are met for an entity if-- 7i7 at least #ej percent 7by vote and value7 of the total outstanding shares of stock in such entity are owned directly or indirectly by qualified residents of ,taiwan1 and 7ii7 less than #ej percent of such entity's gross income 7and in the case of an entity that is a member of a tested group1 less than #ej percent of the tested group's gross income7 is paid or accrued1 directly or indirectly1 in the form of payments that are deductible for purposes of the income taxes imposed by ,taiwan1 to persons who are not-- 7,i7 qualified residents of ,taiwan1 or 7,,ii7 ,united ,states persons who meet such requirements with respect to the ,united ,states as determined by the ,secretary to be equivalent to the requirements of this subsection 7determined without regard to paragraph 7#a77;,b77 with respect to residents of ,taiwan4 7,c7 ,publicly traded requirements ,an entity meets the requirements of this subparagraph if-- 7i7 the principal class of its shares 7and any disproportionate class of shares7 of such entity are primarily and regularly traded on an established securities market in ,taiwan1 or 7ii7 the primary place of management and control of the entity is in ,taiwan and all classes of its outstanding shares described in clause 7i7 are regularly traded on an established securities market in ,taiwan4 7,d7 ,qualified subsidiary requirements ,an entity meets the requirement of this subparagraph if-- 7i7 at least #ej percent 7by vote and value7 of the total outstanding shares of the stock of such entity are owned directly or indirectly by #e or fewer entities-- 7,i7 which meet the requirements of subparagraph 7,c71 or 7,,ii7 which are ,united ,states persons the principal class of the shares 7and any disproportionate class of shares7 of which are primarily and regularly traded on an established securities market in the ,united ,states1 and 7ii7 the entity meets the requirements of clause 7ii7 of subparagraph 7,b74 7,e7 ,only indirect ownership through qualifying intermediaries counted 7i7 ,in general ,stock in an entity owned by a person indirectly through #a or more other persons shall not be treated as owned by such person in determining whether the person meets the requirements of subparagraph 7,b77i7 or 7,d77i7 unless all such other persons are qualifying intermediate owners4 7ii7 ,qualifying intermediate owners ,the term qualifying intermediate owner means a person that is-- 7,i7 a qualified resident of ,taiwan1 or 7,,ii7 a resident of any other foreign country 7other than a foreign country that is a foreign country of concern7 that has in effect a comprehensive convention with the ,united ,states for the avoidance of double taxation4 7iii7 ,special rule for qualified subsidiaries ,for purposes of applying subparagraph 7,d77i71 the term qualifying intermediate owner shall include any person who is a ,united ,states person who meets such requirements with respect to the ,united ,states as determined by the ,secretary to be equivalent to the requirements of this subsection 7determined without regard to paragraph 7#a77;,b77 with respect to residents of ,taiwan4 7,f7 ,certain payments not included ,in determining whether the requirements of subparagraph 7,b77ii7 or 7,d77ii7 are met with respect to an entity1 the following payments shall not be taken into account3 7i7 ,arm's-length payments by the entity in the ordinary course of business for services or tangible property4 7ii7 ,in the case of a tested group1 intra-group transactions4 7#c7 ,dual residents 7,a7 ,rules for determination of status 7i7 ,in general ,an individual who is an applicable dual resident and who is described in subparagraph 7,b71 7,c71 or 7,d7 shall be treated as a qualified resident of ,taiwan4 7ii7 ,applicable dual resident ,for purposes of this paragraph1 the term applicable dual resident means an individual who-- 7,i7 is not a ,united ,states citizen1 7,,ii7 is a resident of the ,united ,states 7determined without regard to subparagraph 7,e771 and 7,,iii7 would be a qualified resident of ,taiwan but for paragraph 7#a77;,b74 7,b7 ,permanent home ,an individual is described in this subparagraph if such individual-- 7i7 has a permanent home available to such individual in ,taiwan1 and 7ii7 does not have a permanent home available to such individual in the ,united ,states4 7,c7 ,center of vital interests ,an individual is described in this subparagraph if-- 7i7 such individual has a permanent home available to such individual in both ,taiwan and the ,united ,states1 and 7ii7 such individual's personal and economic relations 7center of vital interests7 are closer to ,taiwan than to the ,united ,states4 7,d7 ,habitual abode ,an individual is described in this subparagraph if-- 7i7 such individual-- 7,i7 does not have a permanent home available to such individual in either ,taiwan or the ,united ,states1 or 7,,ii7 has a permanent home available to such individual in both ,taiwan and the ,united ,states but such individual's center of vital interests under subparagraph 7,c77ii7 cannot be determined1 and 7ii7 such individual has a habitual abode in ,taiwan and not the ,united ,states4 7,e7 ,united ,states tax treatment of qualified resident of ,taiwan ,notwithstanding section #ggja1 an individual who is treated as a qualified resident of ,taiwan by reason of this paragraph for all or any portion of a taxable year shall not be treated as a resident of the ,united ,states for purposes of computing such individual's ,united ,states income tax liability for such taxable year or portion thereof4 7#d7 ,rules of special application 7,a7 ,dividends ,for purposes of applying this section to any dividend1 paragraph 7#b77;,d7 shall be applied without regard to clause 7ii7 thereof4 7,b7 ,items of income emanating from an active trade or business in ,taiwan ,for purposes of this section-- 7i7 ,in general ,notwithstanding the preceding paragraphs of this subsection1 if an entity taxed as a corporation in ,taiwan is not a qualified resident of ,taiwan but meets the requirements of subparagraphs 7,a7 and 7,b7 of paragraph 7#a71 any qualified item of income such entity derived from the ,united ,states shall be treated as income of a qualified resident of ,taiwan4 7ii7 ,qualified items of income 7,i7 ,in general ,the term qualified item of income means any item of income which emanates from1 or is incidental to1 the conduct of an active trade or business in ,taiwan 7other than operating as a holding company1 providing overall supervision or administration of a group of companies1 providing group financing1 or making or managing investments 7unless such making or managing investments is carried on by a bank1 insurance company1 or registered securities dealer in the ordinary course of its business as such774 7,,ii7 ,substantial activity requirement ,an item of income which is derived from a trade or business conducted in the ,united ,states or from a connected person shall be a qualified item of income only if the trade or business activity conducted in ,taiwan to which the item is related is substantial in relation to the same or a complementary trade or business activity carried on in the ,united ,states4 ,for purposes of applying this subclause1 activities conducted by persons that are connected to the entity described in clause 7i7 shall be deemed to be conducted by such entity4 7iii7 ,exception ,this subparagraph shall not apply to any item of income derived by an entity if at least #ej percent 7by vote or value7 of such entity is owned 7directly or indirectly7 or controlled by residents of a foreign country of concern4 7d7 ,other definitions and special rules ,for purposes of this section-- 7#a7 ,united ,states permanent establishment 7,a7 ,in general ,the term ,united ,states permanent establishment means1 with respect to a qualified resident of ,taiwan1 a permanent establishment of such resident which is within the ,united ,states4 7,b7 ,special rule ,the determination of whether there is a permanent establishment of a qualified resident of ,taiwan within the ,united ,states shall be made without regard to whether an entity which is taxed as a corporation in ,taiwan and which is a qualified resident of ,taiwan controls or is controlled by-- 7i7 a domestic corporation1 or 7ii7 any other person that carries on business in the ,united ,states 7whether through a permanent establishment or otherwise74 7#b7 ,permanent establishment 7,a7 ,in general ,the term permanent establishment means a fixed place of business through which a trade or business is wholly or partly carried on4 ,such term shall include-- 7i7 a place of management1 7ii7 a branch1 7iii7 an office1 7iv7 a factory1 7v7 a workshop1 and 7vi7 a mine1 an oil or gas well1 a quarry1 or any other place of extraction of natural resources4 7,b7 ,special rules for certain temporary projects 7i7 ,in general ,a building site or construction or installation project1 or an installation or drilling rig or ship used for the exploration or exploitation of the sea bed and its subsoil and their natural resources1 constitutes a permanent establishment only if it lasts1 or the activities of the rig or ship lasts1 for more than #ab months4 7ii7 ,determination of #ab-month period ,for purposes of clause 7i71 the period over which a building site or construction or installation project of a person lasts shall include any period of more than #cj days during which such person does not carry on activities at such building site or construction or installation project but connected activities are carried on at such building site or construction or installation project by one or more connected persons4 7,c7 ,habitual exercise of contract authority treated as permanent establishment ,notwithstanding subparagraphs 7,a7 and 7,b71 where a person 7other than an agent of an independent status to whom subparagraph 7,d77ii7 applies7 is acting on behalf of a trade or business of a qualified resident of ,taiwan and has and habitually exercises an authority to conclude contracts that are binding on the trade or business1 that trade or business shall be deemed to have a permanent establishment in the country in which such authority is exercised in respect of any activities that the person undertakes for the trade or business1 unless the activities of such person are limited to those described in subparagraph 7,d77i7 that1 if exercised through a fixed place of business1 would not make this fixed place of business a permanent establishment under the provisions of that subparagraph4 7,d7 ,exclusions 7i7 ,in general ,notwithstanding subparagraphs 7,a7 and 7,b71 the term permanent establishment shall not include-- 7,i7 the use of facilities solely for the purpose of storage1 display1 or delivery of goods or merchandise belonging to the trade or business1 7,,ii7 the maintenance of a stock of goods or merchandise belonging to the trade or business solely for the purpose of storage1 display1 or delivery1 7,,iii7 the maintenance of a stock of goods or merchandise belonging to the trade or business solely for the purpose of processing by another trade or business1 7,,iv7 the maintenance of a fixed place of business solely for the purpose of purchasing goods or merchandise1 or of collecting information1 for the trade or business1 7,v7 the maintenance of a fixed place of business solely for the purpose of carrying on1 for the trade or business1 any other activity of a preparatory or auxiliary character1 or 7,,vi7 the maintenance of a fixed place of business solely for any combination of the activities mentioned in subclauses 7,i7 through 7,v71 provided that the overall activity of the fixed place of business resulting from this combination is of a preparatory or auxiliary character4 7ii7 ,brokers and other independent agents ,a trade or business shall not be considered to have a permanent establishment in a country merely because it carries on business in such country through a broker1 general commission agent1 or any other agent of an independent status1 provided that such persons are acting in the ordinary course of their business as independent agents4 7#c7 ,tested group ,the term tested group includes1 with respect to any entity taxed as a corporation in ,taiwan1 such entity and any other entity taxed as a corporation in ,taiwan that-- 7,a7 participates as a member with such entity in a tax consolidation1 fiscal unity1 or similar regime that requires members of the group to share profits or losses1 or 7,b7 shares losses with such entity pursuant to a group relief or other loss sharing regime4 7#d7 ,connected person ,two persons shall be connected persons if one owns1 directly or indirectly1 at least #ej percent of the interests in the other 7or1 in the case of a corporation1 at least #ej percent of the aggregate vote and value of the corporation's shares7 or another person owns1 directly or indirectly1 at least #ej percent of the interests 7or1 in the case of a corporation1 at least #ej percent of the aggregate vote and value of the corporation's shares7 in each person4 ,in any case1 a person shall be connected to another if1 based on all the relevant facts and circumstances1 one has control of the other or both are under the control of the same person or persons4 7#e7 ,foreign country of concern ,the term foreign country of concern has the meaning given such term under paragraph 7#g7 of section #iija of the ,william ,m4 7,mac7 ,thornberry ,national ,defense ,authorization ,act for ,fiscal ,year #bjba 7#ae ,u4,s4,c4 #dfea7g771 as added by section #ajc7;a77#d7 of the ,,chips ,act of #bjbb74 7#f7 ,partnerships2 beneficiaries of estates and trusts ,for purposes of this section-- 7,a7 a qualified resident of ,taiwan which is a partner of a partnership which carries on a trade or business within the ,united ,states through a ,united ,states permanent establishment shall be treated as carrying on such trade or business through such permanent establishment1 and 7,b7 a qualified resident of ,taiwan which is a beneficiary of an estate or trust which carries on a trade or business within the ,united ,states through a ,united ,states permanent establishment shall be treated as carrying on such trade or business through such permanent establishment4 7#g7 ,denial of benefits for certain payments through hybrid entities ,for purposes of this section1 rules similar to the rules of section #hid7;c7 shall apply4 7e7 ,application 7#a7 ,in general ,this section shall not apply to any period unless the ,secretary has determined that ,taiwan has provided benefits to ,united ,states persons for such period that are reciprocal to the benefits provided to qualified residents of ,taiwan under this section4 7#b7 ,provision of reciprocity ,the ,president or his designee is authorized to exchange letters1 enter into an agreement1 or take other necessary and appropriate steps relative to ,taiwan for the reciprocal provision of the benefits described in this section4 7f7 ,regulations or other guidance 7#a7 ,in general ,the ,secretary shall issue such regulations or other guidance as may be necessary or appropriate to carry out the provisions of this section1 including such regulations or guidance for-- 7,a7 determining-- 7i7 what constitutes a ,united ,states permanent establishment of a qualified resident of ,taiwan1 and 7ii7 income that is effectively connected with such a permanent establishment1 7,b7 preventing the abuse of the provisions of this section by persons who are not 7or who should not be treated as7 qualified residents of ,taiwan1 7,c7 requirements for record keeping and reporting1 7,d7 rules to assist withholding agents or employers in determining whether a foreign person is a qualified resident of ,taiwan for purposes of determining whether withholding or reporting is required for a payment 7and1 if withholding is required1 whether it should be applied at a reduced rate71 7,e7 the application of subsection 7a77#a77;,d77i7 to stock held by predecessor owners1 7,f7 determining what amounts are to be treated as qualified wages for purposes of subsection 7a77#b71 7,g7 determining the amounts to which subsection 7a77#c7 applies1 7,h7 defining established securities market for purposes of subsection 7c71 7,i7 the application of the rules of subsection 7c77#d77;,b71 7,j7 the application of subsection 7d77#f7 and section #addf1 7,k7 determining ownership interests held by residents of a foreign country of concern1 and 7,l7 determining the starting and ending dates for periods with respect to the application of this section under subsection 7e71 which may be separate dates for taxes withheld at the source and other taxes4 7#b7 ,regulations to be consistent with model treaty ,any regulations or other guidance issued under this section shall1 to the extent practical1 be consistent with the provisions of the ,united ,states model income tax convention dated ,february #g1 #bjaf4 4 7b7 ,conforming amendment to withholding tax ,subchapter ,a of chapter #c of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following new section3 #addg4 ,withholding for qualified residents of ,taiwan ,for reduced rates of withholding for certain residents of ,taiwan1 see section #hid;,a4 4 7c7 ,clerical amendments 7#a7 ,the table of sections for subpart ,d of part ,,ii of subchapter ,n of chapter #a of the ,internal ,revenue ,code of #aihf is amended by inserting after the item relating to section #hid the following new item3 ,sec4 #hid;,a4 ,special rules for qualified residents of ,taiwan4 4 7#b7 ,the table of sections for subchapter ,a of chapter #c of such ,code is amended by adding at the end the following new item3 ,sec4 #addg4 ,withholding for qualified residents of ,taiwan4 4 ,,ii ,united ,states-,taiwan ,tax ,agreement ,authorization ,act #bja4 ,short title ,this title may be cited as the ,united ,states-,taiwan ,tax ,agreement ,authorization ,act4 #bjb4 ,definitions ,in this title3 7#a7 ,agreement ,the term ,agreement means the tax agreement authorized by section #bjc7;a74 7#b7 ,appropriate congressional committees ,the term appropriate congressional committees means-- 7,a7 the ,committee on ,foreign ,relations and the ,committee on ,finance of the ,senate2 and 7,b7 the ,committee on ,ways and ,means of the ,house of ,representatives4 7#c7 ,approval legislation ,the term approval legislation means legislation that approves the ,agreement4 7#d7 ,implementing legislation ,the term implementing legislation means legislation that makes any changes to the ,internal ,revenue ,code of #aihf necessary to implement the ,agreement4 #bjc4 ,authorization to negotiate and enter into agreement 7a7 ,in general ,subsequent to a determination under section #hid;,a7e77#a7 of the ,internal ,revenue ,code of #aihf 7as added by the ,united ,states-,taiwan ,expedited ,double-,tax ,relief ,act71 the ,president is authorized to negotiate and enter into a tax agreement relative to ,taiwan4 7b7 ,elements of agreement 7#a7 ,conformity with bilateral income tax conventions ,the ,president shall ensure that-- 7,a7 any provisions included in the ,agreement conform with provisions customarily contained in ,united ,states bilateral income tax conventions1 as exemplified by the #bjaf ,united ,states ,model ,income ,tax ,convention2 and 7,b7 the ,agreement does not include elements outside the scope of the #bjaf ,united ,states ,model ,income ,tax ,convention4 7#b7 ,incorporation of tax agreements and laws ,notwithstanding paragraph 7#a71 the ,agreement may incorporate and restate provisions of any agreement1 or existing ,united ,states law1 addressing double taxation for residents of the ,united ,states and ,taiwan4 7#c7 ,authority ,the ,agreement shall include the following statement3 ,the ,agreement is entered into pursuant to the ,united ,states-,taiwan ,tax ,agreement ,authorization ,act4 7#d7 ,entry into force ,the ,agreement shall include a provision conditioning entry into force upon-- 7,a7 enactment of approval legislation and implementing legislation pursuant to section #bjg2 and 7,b7 confirmation by the ,secretary of the ,treasury that the relevant authority in ,taiwan has approved and taken appropriate steps required to implement the ,agreement4 #bjd4 ,consultations with ,congress 7a7 ,notification upon commencement of negotiations ,the ,president shall provide written notification to the appropriate congressional committees of the commencement of negotiations between the ,united ,states and ,taiwan on the ,agreement at least #ae calendar days before commencing such negotiations4 7b7 ,consultations during negotiations 7#a7 ,briefings ,not later than #ij days after commencement of negotiations with respect to the ,agreement1 and every #ahj days thereafter until the ,president enters into the ,agreement1 the ,president shall provide a briefing to the appropriate congressional committees on the status of the negotiations1 including a description of elements under negotiation4 7#b7 ,meetings and other consultations 7,a7 ,in general ,in the course of negotiations with respect to the ,agreement1 the ,secretary of the ,treasury1 in coordination with the ,secretary of ,state1 shall-- 7i7 meet1 upon request1 with the chairman or ranking member of any of the appropriate congressional committees regarding negotiating objectives and the status of negotiations in progress2 and 7ii7 consult closely and on a timely basis with1 and keep fully apprised of the negotiations1 the appropriate congressional committees4 7,b7 ,elements of consultations ,the consultations described in subparagraph 7,a7 shall include consultations with respect to-- 7i7 the nature of the contemplated ,agreement2 7ii7 how and to what extent the contemplated ,agreement is consistent with the elements set forth in section #bjc7;b72 and 7iii7 the implementation of the contemplated ,agreement1 including-- 7,i7 the general effect of the contemplated ,agreement on existing laws2 7,,ii7 proposed changes to any existing laws to implement the contemplated ,agreement2 and 7,,iii7 proposed administrative actions to implement the contemplated ,agreement4 #bje4 ,approval and implementation of agreement 7a7 ,in general ,the ,agreement may not enter into force unless-- 7#a7 the ,president1 at least #fj days before the day on which the ,president enters into the ,agreement1 publishes the text of the contemplated ,agreement on a publicly available website of the ,department of the ,treasury2 and 7#b7 there is enacted into law1 with respect to the ,agreement1 approval legislation and implementing legislation pursuant to section #bjg4 7b7 ,entry into force ,the ,president may provide for the ,agreement to enter into force upon-- 7#a7 enactment of approval legislation and implementing legislation pursuant to section #bjg2 and 7#b7 confirmation by the ,secretary of the ,treasury that the relevant authority in ,taiwan has approved and taken appropriate steps required to implement the ,agreement4 #bjf4 ,submission to ,congress of agreement and implementation policy 7a7 ,submission of agreement ,not later than #bgj days after the ,president enters into the ,agreement1 the ,president or the ,president's designee shall submit to ,congress-- 7#a7 the final text of the ,agreement2 and 7#b7 a technical explanation of the ,agreement4 7b7 ,submission of implementation policy ,not later than #bgj days after the ,president enters into the ,agreement1 the ,secretary of the ,treasury shall submit to ,congress-- 7#a7 a description of those changes to existing laws that the ,president considers would be required in order to ensure that the ,united ,states acts in a manner consistent with the ,agreement2 and 7#b7 a statement of anticipated administrative action proposed to implement the ,agreement4 #bjg4 ,consideration of approval legislation and implementing legislation 7a7 ,in general ,the approval legislation with respect to the ,agreement shall include the following3 ,congress approves the ,agreement submitted to ,congress pursuant to section #bjf of the ,united ,states-,taiwan ,tax ,agreement ,authorization ,act on 41 with the blank space being filled with the appropriate date4 7b7 ,approval legislation committee referral ,the approval legislation shall-- 7#a7 in the ,senate1 be referred to the ,committee on ,foreign ,relations2 and 7#b7 in the ,house of ,representatives1 be referred to the ,committee on ,ways and ,means4 7c7 ,implementing legislation committee referral ,the implementing legislation shall-- 7#a7 in the ,senate1 be referred to the ,committee on ,finance2 and 7#b7 in the ,house of ,representatives1 be referred to the ,committee on ,ways and ,means4 #bjh4 ,relationship of agreement to ,internal ,revenue ,code of #aihf 7a7 ,internal ,revenue ,code of #aihf to control ,no provision of the ,agreement or approval legislation1 nor the application of any such provision to any person or circumstance1 which is inconsistent with any provision of the ,internal ,revenue ,code of #aihf1 shall have effect4 7b7 ,construction ,nothing in this title shall be construed-- 7#a7 to amend or modify any law of the ,united ,states2 or 7#b7 to limit any authority conferred under any law of the ,united ,states1 unless specifically provided for in this title4 #bji4 ,authorization of subsequent tax agreements relative to ,taiwan 7a7 ,in general ,subsequent to the enactment of approval legislation and implementing legislation pursuant to section #bjg-- 7#a7 the term 8tax agreement0 in section #bjc7;a7 shall be treated as including any tax agreement relative to ,taiwan which supplements or supersedes the ,agreement to which such approval legislation and implementing legislation relates1 and 7#b7 the term 8,agreement0 shall be treated as including such tax agreement4 7b7 ,requirements1 etc41 to apply separately ,the provisions of this title 7including section #bjd7 shall be applied separately with respect to each tax agreement referred to in subsection 7a74 #baj4 ,united ,states treatment of double taxation matters with respect to ,taiwan 7a7 ,findings ,congress makes the following findings3 7#a7 ,the ,united ,states addresses issues with respect to double taxation with foreign countries by entering into bilateral income tax conventions 7known as tax treaties7 with such countries1 subject to the advice and consent of the ,senate to ratification pursuant to article ,,ii of the ,constitution4 7#b7 ,the ,united ,states has entered into more than sixty such tax treaties1 which facilitate economic activity1 strengthen bilateral cooperation1 and benefit ,united ,states workers1 businesses1 and other ,united ,states taxpayers4 7#c7 ,due to ,taiwan's unique status1 the ,united ,states is unable to enter into an article ,,ii tax treaty with ,taiwan1 necessitating an agreement to address issues with respect to double taxation4 7b7 ,statement of policy ,it is the policy of the ,united ,states to-- 7#a7 provide for additional bilateral tax relief with respect to ,taiwan1 beyond that provided for in section #hid;,a of the ,internal ,revenue ,code of #aihf 7as added by the ,united ,states-,taiwan ,expedited ,double-,tax ,relief ,act71 only after entry into force of an ,agreement1 as provided for in section #bje1 and only in a manner consistent with such ,agreement2 and 7#b7 continue to provide for bilateral tax relief with sovereign states to address double taxation and other related matters through entering into bilateral income tax conventions1 subject to the ,senate's advice and consent to ratification pursuant to article ,,ii of the ,constitution4 ,passed the ,house of ,representatives ,january #ae1 #bjbe4;,clerk4