1. Short title This Act may be cited as the Taiwan Tax Agreement Act of 2023 . 2. Findings Congress makes the following findings: (1) The United States has entered into tax treaties covering 65 jurisdictions, which facilitate economic activity, strengthen bilateral cooperation, and benefit United States businesses and other United States taxpayers. (2) Taiwan is a one of the largest trading partners of the United States and one of the world’s largest economies, and further bolstering economic ties between the United States and Taiwan remains critical, especially given Taiwan’s strategic importance and the increasing threat posed by the People’s Republic of China. (3) A tax agreement with Taiwan would play a key role in facilitating and promoting increased bilateral investment and trade between the United States and Taiwan, fortifying the relationship between the two more generally, and encouraging other nations to increase their economic linkages to Taiwan. 3. Authorization to negotiate and conclude (a) In general The President is authorized to negotiate and enter into a tax agreement relative to Taiwan through the American Institute in Taiwan (AIT) (hereinafter the Agreement ). (b) Elements of agreement The Agreement authorized to be negotiated and concluded under this section shall conform with the provisions customarily contained in United States bilateral income tax conventions, as exemplified by the 2016 United States Model Income Tax Convention, and shall include the following elements: (1) Application to tax residents of the United States, Taiwan, or both, exclusive of enterprises permanently established in the People’s Republic of China or in third States that do not have a comprehensive income tax treaty with the United States. (2) Relief from double taxation. (3) Measures aimed at limiting the risk of tax evasion or avoidance. (4) Entry into force conditioned upon confirmation by the President of approval by the United States Congress, as described in section 4, and relevant authority in Taiwan and