SIA’s Statement on U.S.-Taiwan Tax Legislation Advancement

The Semiconductor Industry Association (SIA) responded to recent congressional action aimed at addressing double taxation and other tax-related issues between the U.S. and Taiwan. David Isaacs, the vice president of government affairs at SIA, conveyed the association’s stance.

Acknowledging the efforts of Senate Finance Committee Chair Wyden (D-Ore.) and Ranking Member Crapo (R-Idaho), Senate Foreign Relations Committee Chair Cardin (D-Md.) and Ranking Member Risch (R-Idaho), and House Ways and Means Committee Chair Smith (R-Mo.) and Ranking Member Neal (D-Mass.), SIA appreciates their work in paving the way to resolve pressing tax matters between the two nations.

The recent unanimous approval by the House Ways and Means Committee is viewed as a positive stride. It demonstrates a collective commitment to addressing double taxation concerns and reducing trade barriers between the U.S. and Taiwan.

SIA calls upon the House and Senate to swiftly pass this crucial legislation. Emphasizing the potential benefits for semiconductor companies in both nations, the passage is seen as instrumental in supporting the substantial investments in the U.S. semiconductor industry, particularly following the CHIPS and Science Act. Establishing a tax agreement between the U.S. and Taiwan is deemed a fundamental aspect for the success of this new law.