http://www.washingtonwatch.com/bills info@washingtonwatch.com http://www.pjdoland.com/chai/?v=0.1 http://www.washingtonwatch.com/bills/history/110_HR_1672.html?rev=6584 <p>H.R. 1672 would amend the Internal Revenue Code of 1986 to deny qualified dividend income treatment to certain foreign dividends.</p> <h2 id="toc0"> Detailed Summary </h2> <p>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.</p> <p>Revises the definition of &quot;qualified foreign corporation&quot; 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).</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc1"> Status of the Legislation </h2> <p>Latest Major Action: 3/23/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc2"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc3"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 6584@http://www.washingtonwatch.com Thu, 02 Aug 2007 00:00:00 EDT http://www.washingtonwatch.com/bills/history/110_HR_1672.html?rev=6585 <p>H.R. 1672 would amend the Internal Revenue Code of 1986 to deny qualified dividend income treatment to certain foreign dividends.</p> <h2 id="toc4"> Detailed Summary </h2> <p>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.</p> <p>Revises the definition of &amp;quot;qualified foreign corporation&amp;quot; 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).</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc5"> Status of the Legislation </h2> <p>Latest Major Action: 3/23/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc6"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc7"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 6585@http://www.washingtonwatch.com Thu, 02 Aug 2007 00:00:00 EDT http://www.washingtonwatch.com/bills/show/110_HR_1672.html 3/23/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means. 19263@http://www.washingtonwatch.com Fri, 23 Mar 2007 00:00:00 EDT