S.199

Provides special tax rules for certain residents of Taiwan with income from sources within the United States.

This bill amends the Internal Revenue Code to provide special rules for the taxation of certain residents of Taiwan with income from sources within the United States. It defines terms such as "qualified resident of Taiwan" and "United States permanent establishment." The bill also authorizes the President to negotiate and enter into a tax agreement relative to Taiwan, subject to certain conditions and congressional approval. The agreement aims to address issues with respect to double taxation and must conform with bilateral income tax conventions.