A bill to establish rules for the deductibility of business expenses of attending conventions in North America and certain Caribbean countries.

Summary

Amends the Internal Revenue Code to permit the deductibility of business expenses of attending conventions in Bermuda. Requires the existence of a presidential certification to the effect that the inclusion of Bermuda is in the national security interest and that the administration and enforcement of the U.S. tax laws is not materially impeded by Bermuda's information exchange policies. Deletes the provision stating that an exchange of information agreement need not provide for the exchange of qualified confidential information which is sought for civil tax purposes if certain conditions are met.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 1 October 1985

  Open at official source

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