Wed, Jan 24, 2024 page2

• Taipei, US working closely on taxation issue, Tsai says

  PARTNERS: There is a bipartisan consensus in Washington that Taiwan’s freedom and prosperity are in the economic and security interests of the US, a former US official said

  • By Liu Tzu-hsuan / Staff reporter
  • • Add TT as Preferred Source
    • 
    • 
    • 

  Taiwan is working closely with the US to resolve the issue of double taxation in the hope of deepening bilateral partnerships in key supply chains, President Tsai Ing-wen (蔡英文) told a US-Taiwan Business Council delegation yesterday.

  Led by former US undersecretary of state for economic growth, energy and the environment Keith Krach, the delegation consists of representatives from 29 US companies in fields such as energy, finance, defense and advanced technology.

  Tsai thanked Krach for his efforts to promote cooperation and exchanges between Taiwan and the US, as well as the businesses for attaching great importance to the Taiwan market.

  

  Former US undersecretary of state for economic growth, energy and the environment Keith Krach, left, speaks as President Tsai Ing-wen looks on yesterday at the Presidential Office in Taipei.

  Photo: CNA

  Taiwan has demonstrated resilience in the past few years amid an uncertain global economic environment due to the COVID-19 pandemic and the geopolitical landscape, maintaining its international competitiveness and contributing to the stability of the global supply chain, she said.

  As the eighth-largest trading partner of the US, Taiwan is seeking solutions to the double taxation issue to build a better investment environment for both sides and deepen partnerships in key supply chains, she said.

  The US House of Representatives Committee on Ways and Means on Friday approved the Tax Relief for American Families and Workers Act of 2024, which includes removing the current double taxation between the US and Taiwan, which Tsai said is welcome progress.

  She also expressed Taiwan’s willingness to join the Washington-led Indo-Pacific Economic Framework, while soliciting support from the council.

  Krach congratulated president-elect William Lai (賴清德) and vice president-elect Hsiao Bi-khim (蕭美琴) and praised Taiwanese as they “stood resolutely behind their democracy and sent a clear message to the rest of the world that their freedom is here to stay” through the presidential and legislative elections on Jan. 13.

  The results of the elections also indicated public support for Taiwan to maintain its ties with the US, he said.

  “The momentum between the US and Taiwan will keep growing and our friendship will soar to new heights,” he added.

  The delegation is to discuss topics of mutual interest with Taiwanese counterparts, including trade policies, investment opportunities and technological cooperation with the goal of driving economic growth and innovation for both the US and Taiwan, he said.

  Now chairman of the Krach Institute for Tech Diplomacy at Purdue, Krach said that the institute launched the Taiwan Center for Innovation and Prosperity to partner with Taiwan’s leading companies and innovators to “provide access to world-class talent, a rich investment ecosystem and raise Taiwan’s international standing.”

  There is bipartisan consensus in Washington that Taiwan’s freedom and prosperity are “in the economic, technological, scientific and national security interests of the US and the free world,” he said.

  On Monday, the delegation met with Premier Chen Chien-jen (陳建仁), who thanked the council for its long-term efforts to promote economic and trade relations between Taiwan and the US, such as by communicating with the US government, holding industry forums, publishing survey reports and visiting the nation regularly.

  The two sides are to continue bolstering ties through the Economic Prosperity Partnership Dialogue and the Technology Trade and Investment Collaboration, he said.
• Most Popular

  • 1

    Taiwan, Japan might sign comprehensive trade pact: report

  • 2

    Taiwan to close its office in Papua New Guinea

  • 3

    China’s military purge reduces war risk: experts

  • 4

    Ex-CCTV host seeking asylum deported

  • 5

    Investigators seize boats in probe into aide’s escape