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H.R. 1303 · 109th Congress

Fairness and Accountability in International Taxation Act of 2005

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

LDD DoggettSponsor
76 cosponsors · 75 D, 1 I
NAD Abercrombie GAD Ackerman RAD Andrews CBD Brown SBD Brown BBD Baird TBD Baldwin JCD Carson JCD Conyers LCD Capps MCD Capuano JCD Crowley DDD Davis PDD DeFazio DDD DeGette BDD Delahunt RDD DeLauro CED Edwards LED Evans SFD Farr CFD Fattah BFD Filner GGD Green RGD Grijalva AHD Hastings MHD Hinchey RHD Hinojosa DHD Hooley RHD Holt SJD Jackson Lee WJD Jefferson JJD Jackson SJD Jones MKD Kaptur PKD Kennedy CKD Kilpatrick RKD Kind DKD Kucinich SLD Levin JLD Lewis BLD Lee EMD Markey JMD McGovern JMD McDermott MMD McNulty MMD Meehan JMD Millender-McDonald GMD Miller KMD Meek JND Nadler RND Neal JOD Olver MOD Owens FPD Pallone BPD Pascrell LRD Roybal-Allard BRD Rush TRD Ryan LSD Sanchez BSI Sanders BSD Sherman LSD Slaughter PSD Stark TSD Strickland JSD Schakowsky ASD Schiff HSD Solis LSD Sánchez JTD Tierney TUD Udall NVD Velázquez MWD Waters HWD Waxman DWD Watson HBD Berman JLD Larson

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

Fairness and Accountability in International Taxation Act of 2005 - 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 · Mar 15, 2005
Fairness and Accountability in International Taxation Act of 2005 - 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 reduced 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 2005

Latest action (Mar 15, 2005): Referred to the House Committee on Ways and Means.

Policy area: Taxation · Origin: House · Introduced: Mar 15, 2005

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

No recorded floor vote found.