The Foreign Sales Corporation (FSC) Tax Benefit for Exporting and the WTO
Description:
The Foreign Sales Corporation (FSC) provisions of the U.S. tax code permit U.S. firms to exempt between 15% and 30% of export income from taxation. FSC was enacted in 1984 to replace another tax benefit for exporting - the Domestic International Sales Corporation (DISC) provisions. U.S. trading partners had charged that DISC was an export subsidy, and so violated the General Agreement on Tariffs and Trade (GATT). In 1998 the European Union (EU) complained to the World Trade Organization (WTO, G…
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Date:
October 11, 2000
Creator:
Brumbaugh, David L.
Item Type:
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Report
Partner:
UNT Libraries Government Documents Department