USTR - USTR Statement on the Foreign Sales Corporation (FSC) Issue
Office of the United States Trade Representative

 

USTR Statement on the Foreign Sales Corporation (FSC) Issue
Contact: Richard Mills (202) 395-3230 06/22/2001

WASHINGTON - The Office of the United States Trade Representative today issued the following statement:

"A panel of the World Trade Organization has issued a confidential interim report today on the FSC Repeal and Extraterritorial Income Exclusion Act of 2000, the law which replaced the Foreign Sales Corporation provisions of U.S. tax law. The report will be distributed on a confidential basis to the United States and the European Union, who will have the opportunity to submit written comments on the report to the panel. The WTO panel is scheduled to issue its final report in July, and the report will be made public in August.

"The United States will respect the confidential nature of the report and will not comment on its findings, nor its implications, at this time."

 
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