3.0.0 1672 2018-11-08T23:32:22Z 2018-11-08T23:32:22Z House H HR 2007-03-23 110 hswm00 Ways and Means Committee House Standing Referred to 2007-03-23T13:01:25Z A bill to amend the Internal Revenue Code of 1986 to deny qualified dividend income treatment to certain foreign dividends. 110 1006 S 2007-03-28 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4053-4054) Identical bill CRS 2007-03-23 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2007-03-23 Sponsor introductory remarks on measure. (CR E629-630) IntroReferral B00100 9 Library of Congress 2007-03-23 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-03-23 Introduced in House IntroReferral 1000 9 Library of Congress N000015 Rep. Neal, Richard E. [D-MA-2] RICHARD NEAL D MA E. 2 N Taxation Commerce Dividends Finance and Financial Sector Foreign Trade and International Finance Foreign corporations Income tax Tax credits Tax deductions Tax rates Taxation 00 2007-03-23 Introduced in House 2007-04-12T17:40:53Z Amends the Internal Revenue Code to deny preferential tax rates (5 to 15%) for dividends paid by a foreign corporation if: (1) such dividends are allowed as a tax deduction or credit under the tax laws of the country in which such foreign corporation is established; (2) such foreign corporation is not treated as a corporation, is exempt from taxation, or is a passive foreign investment company under the laws of its foreign country; or (3) such dividends are paid with respect to an instrument which is not treated as stock under the tax laws of the foreign country from which such dividends are paid.

Revises the definition of "qualified foreign corporation" for purposes of qualifying dividends paid by such a corporation for preferential tax rates to require such corporations be created or organized in a foreign country that has a comprehensive tax system (as determined by the Secretary of the Treasury).

]]> To amend the Internal Revenue Code of 1986 to deny qualified dividend income treatment to certain foreign dividends. Display Title To amend the Internal Revenue Code of 1986 to deny qualified dividend income treatment to certain foreign dividends. Official Title as Introduced To amend the Internal Revenue Code of 1986 to deny qualified dividend income treatment to certain foreign dividends. 2007-03-23 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.