A pair of senators who represent cities with iconic music and entertainment scenes teamed up to aid Taiwanese artists and athletes in a widely backed bill to extend friendly tax treatment to a key U.S. ally.
The Senate Finance Committee on Thursday added a section to its legislation to create tax treaty-like benefits for Taiwanese businesses, investors and workers. The new language to reduce double taxation for entertainers and athletes mimics a section of the typical tax treaty but wasn’t originally part of the bill.
It would shield Taiwanese musicians, artists and athletes and other entertainers from paying U.S. taxes if they receive $30,000 or less in pay and reimbursements during a year from work in the U.S., and it would kick in only if Taiwan offers the same benefit to U.S. entertainers and athletes.
