Sec. 202. Repeal of reduced withholding rates for residents of China
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/bill/116/s/2/is/section-202A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 894 of the Internal Revenue Code of 1986 is amended— by striking The provisions of in subsection
(a)and inserting Except as otherwise provided in this section, the provisions of ; and by adding at the end the following new subsection: The rates of tax imposed under sections 871 and 881, and the rates of withholding tax imposed under chapter 3, with respect to any resident of the People's Republic of China shall be determined without regard to any provision of the Agreement between the Government of the United States of America and the Government of the People's Republic of China for the Avoidance of Double Taxation and the Prevention of Tax Evasion with Respect to Taxes on Income, signed at Beijing on April 30, 1984. The Secretary shall promulgate regulations to prevent the avoidance of the purposes of this subsection through the use of foreign entities. . The amendments made by this section shall apply to income received after the date of the enactment of this Act.