“The relief from liability referred to in the second sentence of section 254(a) of the Compact means only—“(1) relief in the form of the foreign tax credit (or deduction in lieu thereof) available with respect to the income taxes of a possession of the United States, and
“(2) relief in the form of the exclusion under section 911 of the Internal Revenue Code of 1986 [26 U.S.C. 911].
Take Action
Your position
Add a comment
to comment on this section.
Annotate the text
Highlight any passage on the Full Text tab to attach a note. Annotations appear on the Annotations tab.