H.R. 33: To amend the Internal Revenue Code of 1986 to provide special rules for the taxation of certain residents of Taiwan with income from sources within the United States.

The United States-Taiwan Expedited Double-Tax Relief Act, H.R. 33, would add special U.S. tax rules for qualified residents of Taiwan who have income from sources in the United States. Interest, royalties and certain other income paid to them would be taxed at 10 percent instead of the standard 30 percent. Dividends would be taxed at 15 percent, or 10 percent for a dividend that meets the bill's holding requirements and goes to an entity taxed as a corporation in Taiwan.

The bill would also exempt an entertainer or athlete who is a qualified Taiwan resident from tax on income from U.S. performances if total gross receipts for the year do not exceed $30,000, and would tax a Taiwan resident's business income through a U.S. permanent establishment under the regular business tax rules.