Page:United States Statutes at Large Volume 90 Part 2.djvu/183

 PUBLIC LAW 94-455—OCT. 4, 1976 '

90 STAT. 1651

" (B) any other country (or with the government, a company, or a national of that country) in which such person or such member had operations during the taxable year if such person (or, if such person is a foreign corporation, any United States shareholder of that corporation) knows or has reason to know that participation in or cooperation with an international boycott is required as a condition of doing business within such country or with such government, company, or national, Lhat person or shareholder (within the meaning of section 951(b)) shall report such operations to the Secretary at such 26 USC 951. time and in such manner as the Secretary prescribes, except that in the case of a foreign corporation such report shall be required only of a United States shareholder (within the meaning of such section) of such corporation. "(2)

PARTICIPATION A X O COOI'EKATIOX; KEQUEST riiEREFOR.—A

taxpayer shall report whether he, a foreign corporation of which he is a United States shareholder, or any member of a controlled group which includes the taxpayer or such foreign corporation has participated in or cooperated with an international boycott at any time during the taxable year, or has been requested to participate in or cooperate with such a boycott, and, if so, the nature of any o))eration in connection with which there was participation in or cooperation with such boycott (or there was a request to participate or cooperate). " (3) L I S T TO KE MAINTAINED.—The Secretary shall m a i n t a i n

and publish not less frequently than fjuarterly a cur-rent list of countries which reijuire or may require participation in or cooperation with an international boycott (within the meaning of subsection (b)(3)). " (b) PARTICIPATION I N OR COOPERATION A\'rrn AX INTERNATIOXAI, BOYCOTT.— " (1) GENERAL RULE.—If the person or a member of a con-

trolled group (within the meaning of section 993(a)(3)) which includes the person participates in or cooperates with an international boycott in the taxable year, all operations of the taxpayer or such group in that country and in any other country which requires participation in or cooperation vvith the boycott as a condition of doing business witliin that country, oi- with the government, a company, or a national of that country, shall be treated as operations in connection with which such participation of cooperation occurred, except to the extent that the person can clearly demonstrate that a particular operation is a clearly separate and identifiable operation in connec^tion with which there was no participation in or cooperation with an international boycott. " (2) S P E C I A I, RILE.

" (A) XoNHOvcorr OPERATIONS.—A clearly sepaiate and identifiable operation of a person, or of a member of the controlled grouf) (within the meaning of section 993(a)(3)) which includes that person, in or related to any countr7 within the group of countries referred to in paragraph (1) shall not be treated as an operation in or related to a group of countries associated in carrying out an international boycott if the per-son can clearly demonstrate that he, or that such jnember. did not participate in or cooperate with the international boycott in connection with that operation.

�