Northern Ireland Fair Employment Incentive Act of 1989

Summary

Northern Ireland Fair Employment Incentive Act of 1989 - Removes Internal Revenue Code limitations on the amount of the foreign tax credit available with respect to taxes imposed on foreign source income generated in connection with a manufacturing facility located in a high unemployment area of Northern Ireland if 40 percent or more of the facility's employees are members of a religious minority in Northern Ireland. Reduces the foreign tax credit for entities that have operations in Northern Ireland and are in violation of a fair employment standard there during the pertinent taxable year. Prescribes these standards to include conditions to assure both avoidance of religious or political discrimination and the practice of equal opportunity and affirmative action programs. Requires affected taxpayers to present annual compliance reports to the Secretary of the Treasury. Penalizes entities that fail to report. Revises the definition of "subpart F income" (types of income generally suited to tax haven activity) to exclude from tax deferral provisions amounts attributable to the Northern Ireland sourced income of entities in violation of the fair employment standards.

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2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 3 January 1989

  Open at official source

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