§ 999.
(a)
International boycott reports by taxpayers
(1)
Report required
If any person, or a member of a controlled group (within the meaning of section 993(a)(3)) which includes that person, has operations in, or related to—
(A)
a country (or with the government, a company, or a national of a country) which is on the list maintained by the Secretary under paragraph (3), or
(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 co-operation with an international boycott is required as a condition of doing business within such country or with such government, company, or national,
that person or shareholder (within the meaning of section 951(b)) shall report such operations to the Secretary at such 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 and cooperation; request therefor
(3)
List to be maintained
(b)
Participation in or cooperation with an international boycott
(2)
Special rule
(A)
Nonboycott operations
(B)
Separate and identifiable operations
(3)
Definition of boycott participation and cooperation
For purposes of this section, a person participates in or cooperates with an international boycott if he agrees—
(A)
as a condition of doing business directly or indirectly within a country or with the government, a company, or a national of a country—
(i)
to refrain from doing business with or in a country which is the object of the boycott or with the government, companies, or nationals of that country;
(ii)
to refrain from doing business with any United States person engaged in trade in a country which is the object of the boycott or with the government, companies, or nationals of that country;
(iii)
to refrain from doing business with any company whose ownership or management is made up, all or in part, of individuals of a particular nationality, race, or religion, or to remove (or refrain from selecting) corporate directors who are individuals of a particular nationality, race, or religion; or
(iv)
to refrain from employing individuals of a particular nationality, race, or religion; or
(B)
as a condition of the sale of a product to the government, a company, or a national of a country, to refrain from shipping or insuring that product on a carrier owned, leased, or operated by a person who does not participate in or cooperate with an international boycott (within the meaning of subparagraph (A)).
(4)
Compliance with certain laws
This section shall not apply to any agreement by a person (or such member)—
(A)
to meet requirements imposed by a foreign country with respect to an international boycott if United States law or regulations, or an Executive Order, sanctions participation in, or cooperation with, that international boycott,
(B)
to comply with a prohibition on the importation of goods produced in whole or in part in any country which is the object of an international boycott, or
(C)
to comply with a prohibition imposed by a country on the exportation of products obtained in such country to any country which is the object of an international boycott.
(e)
Participation or cooperation by related persons
If a person controls (within the meaning of section 304(c)) a corporation—
(1)
participation in or cooperation with an international boycott by such corporation shall be presumed to be such participation or cooperation by such person, and
(2)
participation in or cooperation with such a boycott by such person shall be presumed to be such participation or cooperation by such corporation.
(Added [Pub. L. 94–455, title X, § 1064(a)], Oct. 4, 1976, [90 Stat. 1650]; amended [Pub. L. 95–600, title VII, § 703(h)(2)], (3), Nov. 6, 1978, [92 Stat. 2940]; [Pub. L. 98–369, div. A, title VIII, § 802(c)(3)], July 18, 1984, [98 Stat. 999]; [Pub. L. 99–514, title XVIII, § 1876(p)(3)], Oct. 22, 1986, [100 Stat. 2902]; [Pub. L. 106–519, § 4(5)], Nov. 15, 2000, [114 Stat. 2433]; [Pub. L. 108–357, title I, § 101(b)(8)], Oct. 22, 2004, [118 Stat. 1423].)