26 U.S.C. § 908 : US Code - Section 908: Reduction of credit for participation in or cooperation with an international boycott

Search 26 U.S.C. § 908 : US Code - Section 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 993(a)(3)) which includes such person,
participates in or cooperates with an international boycott during
the taxable year (within the meaning of section 999(b)), the amount
of the credit allowable under section 901 to such person, or under
section 902 or 960 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 901 for the taxable year, multiplied by
(2) the international boycott factor (determined under section
999).
(b) Application with sections 275(a)(4) and 78
Section 275(a)(4) and section 78 shall not apply to any amount of
taxes denied credit under subsection (a).