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H.R. 2184 · 108th Congress

Fairness and Accountability in International Taxation Act of 2003

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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

LDD DoggettSponsor
80 cosponsors · 79 D, 1 I
TBD Baldwin JCD Crowley PDD DeFazio BDD Delahunt RDD DeLauro BFD Filner MFD Frost WJD Jefferson SJD Jones PKD Kennedy JKD Kleczka DKD Kucinich SLD Levin JLD Lewis BLD Lee EMD Markey RMD Matsui JMD McGovern JMD McDermott MMD McNulty GMD Miller RND Neal FPD Pallone LSD Sanchez BSI Sanders LSD Slaughter PSD Stark HSD Solis JTD Tierney HWD Waxman NAD Abercrombie GAD Ackerman RAD Andrews CBD Brown SBD Brown BBD Baird CBD Bell JCD Carson JCD Conyers LCD Capps MCD Capuano DDD Davis DDD DeGette CED Edwards LED Evans SFD Farr CFD Fattah GGD Green RGD Grijalva AHD Hastings MHD Hinchey RHD Hinojosa DHD Hooley JHD Hoeffel RHD Holt SJD Jackson Lee JJD Jackson MKD Kaptur CKD Kilpatrick RKD Kind KMD McCarthy JMD Millender-McDonald KMD Meek JND Nadler JOD Olver MOD Owens BPD Pascrell LRD Roybal-Allard BRD Rush CRD Rodriguez TRD Ryan BSD Sherman TSD Strickland JSD Schakowsky ASD Schiff TUD Udall NVD Velázquez MWD Waters DWD Watson MMD Meehan

30 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

Fairness and Accountability in International Taxation Act of 2003 - Amends the Internal Revenue Code to deny reduced withholding tax treaty benefits to a foreign entity on any deductible foreign payment (deductible payment made by a domestic entity to a related foreign entity) unless such entity is predominantly owned by individuals who are residents of…

What it does: CRS summary · Introduced in House · May 21, 2003
Fairness and Accountability in International Taxation Act of 2003 - Amends the Internal Revenue Code to deny reduced withholding tax treaty benefits to a foreign entity on any deductible foreign payment (deductible payment made by a domestic entity to a related foreign entity) unless such entity is predominantly owned by individuals who are residents of such foreign country. Exempts from such provision: (1) corporations with substantial business activities in a treaty country with specified tax rates; (2) payments received by controlled foreign corporations from U.S. shareholders; and (3) certain conduit payments made by foreign corporations.

Provides a special income and deduction allocation rule for related-party inbound (transfer price increased by deflected tax haven income) and outbound (transfer price increased by deflected tax haven income) transactions. Defines "related-party inbound transaction," "related-party outbound transaction," and "deflected tax haven."

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Fairness and Accountability in International Taxation Act of 2003

Latest action (May 21, 2003): Referred to the House Committee on Ways and Means.

Policy area: Taxation · Origin: House · Introduced: May 21, 2003

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.