A bill to amend the Internal Revenue Code of 1954 to provide that the credit for foreign taxes shall not be allowed in the case of taxes paid to a foreign country with respect to the income derived from any oil or gas well located in a foreign country.

referredUnited States· United States Congress· EN

Introduced

4 February 1975

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Provides that the credit for foreign taxes presently allowed under the Internal Revenue Code shall not be allowed in the case of taxes paid to a foreign country with respect to the income derived from any oil or gas well located in a foreign country. States that this provision shall not apply where contrary to a treaty ratified after the date of enactment of this Act.

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Documents

1 official file

Introduced in House
summary · EN · 4 February 1975
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/94th-congress/house-bill/2734
Open data entity: https://api.congress.gov/v3/bill/94/hr/2734