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US Treasury Department reissues list of boycott countries that result in restriction of US tax benefits

14 October 2012

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Approved Changes

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United States

The US Treasury Department has reissued its list of the countries that require cooperation with or participation in an international boycott as a condition of doing business. The countries listed are Iraq, Kuwait, Lebanon, Libya, Qatar, Saudi Arabia, Syria, the United Arab Emirates, and the Republic of Yemen. Iraq is added for the new list. The remaining countries are unchanged from the list dated 3 February 2012. The list is dated 13 August 2012 and was published in the Federal Register on 17 August 2012. The listed countries are identified pursuant to Section 999 of the US Internal Revenue Code (IRC), which requires...