§ 908 Reduction of credit for participation in or cooperation with an international boycott
(a) In general
If a person, or a member of a controlled group (within the meaning of section ) which includes such person, participates in or cooperates with an international boycott during the taxable year (within the meaning of section ), the amount of the credit allowable under section to such person, or under section to United States shareholders of such person, for foreign taxes paid during the taxable year shall be reduced by an amount equal to the product of—
(1) the amount of the credit which, but for this section, would be allowed under section for the taxable year, multiplied by
(2) the international boycott factor (determined under section ).
(b) Application with sections 275(a)(4) and 78
Section and section shall not apply to any amount of taxes denied credit under subsection (a).
(Added Pub. L. 94–455, title X, § 1061(a), Oct. 4, 1976, 90 Stat. 1649; amended Pub. L. 115–97, title I, § 14301(c)(28), Dec. 22, 2017, 131 Stat. 2224.)
Operative text only. Editorial notes, amendment history, and effective dates: official OLRC text of § 908