Extraterritorial income exclusion, under the U.S. Internal Revenue Code, was the amount excluded from a taxpayer's gross income for certain transactions that generate foreign trading gross receipts. In general, foreign trading gross receipts include gross receipts from the sale, exchange, lease, rental, or other disposition of qualifying foreign trade property.[1] Foreign trading gross receipts also include receipts from certain services provided in connection with such property, as well as engineering and architectural services for construction projects outside the United States.
Extraterritorial income is the gross income of the taxpayer attributable to foreign trading gross receipts. The taxpayer reported all of its extraterritorial income on its tax return. The taxpayer used Form 8873 to calculate its exclusion from income that is qualifying foreign trade income.
It was abolished when in late 2004, US President George W Bush signed the American Jobs Creation Act of 2004 which phased out the extraterritorial income (ETI) exclusion in favor of broader tax relief. ETI deduction benefits are not available for transactions entered into after 2006.
^"Extraterritorial Income Exclusion Definition". Ventureline.com. 2000-09-30. Retrieved 2012-04-13.
and 22 Related for: Extraterritorial income exclusion information
Extraterritorialincomeexclusion, under the U.S. Internal Revenue Code, was the amount excluded from a taxpayer's gross income for certain transactions...
included new laws, however, to exclude extraterritorialincome from taxation (the Extraterritorialincomeexclusion). The European Union (EU) challenged...
follows: created deduction for income from U.S. production activities repealed exclusion for extraterritorialincome changed interest expense allocation...
the scope of their income taxation in some manner territorially or provide for offsets to taxation relating to extraterritorialincome. The manner of limitation...
rate of approximately 12 percent.” Foreign Sales Corporation Extraterritorialincomeexclusion List of international trade topics 26 USC 992. 26 USC 991...
States) 106–518 (text) (PDF) 106-519 November 15, 2000 FSC Repeal and ExtraterritorialIncomeExclusion Act of 2000 To amend the Internal Revenue Code of 1986 to...
Act of 2000 P.L. 106-519 Enacted 11/15/00 FSC Repeal and ExtraterritorialIncomeExclusion Act of 2000 P.L. 106-554 Enacted 12/21/00 Community Renewal...
Revenue Code excluded "extraterritorialincome" which constituted "qualifying foreign trade income" under former section 941 from income. The effect of these...
headquartered in New York City (in the United States, but with certain extraterritorial privileges), and the UN has other offices in Geneva, Nairobi, Vienna...
tax Extraterritorial jurisdiction#United States FATCA agreement between Canada and the United States Financial Secrecy Index Foreign earned income exclusion...
Centre of Rome, the Properties of the Holy See in that City Enjoying Extraterritorial Rights and San Paolo Fuori le Mura". UNESCO World Heritage Centre....
government to sign unequal treaties, granting them trading privileges, extraterritoriality and treaty ports under their control. The Taiping Rebellion (1850–1864)...
foreign residences in Osaka and Edo. It also embodied the concept of extraterritoriality (foreigners were subject to the laws of their own countries but not...
President also authorized the Department of Commerce to provide relief, or exclusion, from these tariffs for U.S. steel and aluminum importers in certain circumstances...
activities with children under the age of 16 committed overseas. Laws with extraterritorial application are intended to fill the gap when countries are unwilling...
neighbours' sovereignty. The apartheid government made judicious use of extraterritorial operations to eliminate its military and political opponents, arguing...
(modern Gdańsk) rejoin Germany. Through Hitler had only asked for extraterritorial highways across the Polish Corridor to link East Prussia with the rest...
, France and other Western powers (and also Japan), which granted extraterritorial rights to foreigners and opened China's ports to foreign trade. China's...
crushing defeat by Japan in the Russo-Japanese War of 1904–1905. Although extraterritorial jurisdiction was abandoned by the United Kingdom and the United States...
Jewish-only areas." Adalah describes the two main mechanisms by which exclusion from land ownership and use are enacted; through so-called "admissions...
U.S. of a treaty with China, signed on January 11, relinquishing extraterritoriality privileges. Joseph E. Davies, the former American ambassador to the...
prevent what he believe to be "the corruption of the children's minds". The exclusion of homosexuality from the sexual education curriculum, in addition to...