HR 4860
103th Congress
House
Taxation
Administrative procedure
Budget deficits
Corporation taxes
Department of the Treasury
Derivative securities
Economics and Public Finance
Federal budgets
Finance and Financial Sector
Foreign Trade and International Finance
Foreign corporations
Foreign investments
Foreign tax credit
Government Operations and Politics
Imports
Income tax
International Affairs
International corporations
Tax administration
Tax refunds
Foreign Tax Compliance Act of 1994
Introduced: July 29, 1994
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 29, 1994
Referred to the House Committee on Ways and Means.
Jul 29, 1994
Introduced in House
Plain-English summary
Foreign Tax Compliance Act of 1994 - Amends the Internal Revenue Code to include in the taxation of controlled foreign corporations income attributable to imported property.
Requires the separate application of limitations on the foreign tax credit for imported property income.
Expresses the sense of the Congress that deficit reduction should be achieved in part by eliminating enforcement breakdowns that enable foreign-controlled corporations operating in the United States, and foreign persons investing in the United States, to pay no taxes.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1