...; "(2) AIRCRAFT OF FOREIGN REGISTRY. — Earnings derived from the operation of aircraft registered under the laws of a foreign country which grants an...and to corporations organized in the United States." (b) Section 231 (d) of the Internal Revenue Code (relating to icome of foreign corporations) is hereby...

...States; "(2) AIRCRAFT OF FOREIGN REGISTRY. — Earnings derived from the operation of aircraft registered under the laws of a foreign country which grants an...and to corporations organized in the United States." SEC. 2. The amendments made by this Act shall be applicable with respect to taxable years beginning...

...States. (2) AIRCRAFT OF FOREIGN REGISTRY. — Earnings derived from the operation of aircraft registered ecretary or his delegate may prescribe as necessary...reflect income. (b) METHOD APPLICABLE. — In inventoryi SEC. 884. CROSS REFERENCES. (1) For withholding at source of tax on income of foreign corporations,...

...of doing business. Mr. Stam says the present law is as follows : Exclusions from any gross Income. Ships under foreign flag, earnings derived from the...equivalent exemption to citizens of the United States, to corporations organized in the United States. REVENUE ACT OF 1962 The CHAIRMAN. This section of the...

...derived by a nonresident alien individual or a foreign corporation whose income consists exclusively of earnings derived from the operation of a ship or ships...country which grants an equivalent exemption to citizens and corporations of the United States. Article 6 of the Convention continues this exemption of the...

...derived by a nonresident alien individual or a foreign corporation whose income consists exclusively of earnings derived from the operation of a ship or ships...country which grants an equivalent exemption to citizens and corporations of the United States. Article 6 of the convention continues this exemption of the...

...Internal Revenue Code of 1954 provides, in general, in the case of ships under a foreign flag, that earnings derived from the operation of a ship or ships...and to corporations organized in the United States shall not be included in gross income of a foreign corporation and shall be exempt from taxation. It...

..."(d) Ships Under Foreign Flag.—The income of a foreign corporation, which consists exclusively of earnings derived from the operation of a ship or ships...and to corporations organized in the United States, shall not be included in gross income and shall be exempt from taxation under this chapter." The Bureau...

...1965. (Id., § 809 (f), 79 Stat. 168.) «• Section 872 originally read as follows (68A Stat. 280) : "SEC. 872. GROSS INCOME. "(a) GENERAL RULE. — In...operation of aircraft registered under the laws of ft foreign country which grants an equivalent exemption to citizens of the United States and to corporations...

...States. (2) Aircraft of foreign registry. — Earnings derived, from the operation of aircraft registered under the laws of a foreign country which grants an...and to corporations organized in the United States. EC. 884 CROSS REFERENCES. [(4)] (1) For special provisions relating to unrelated business income of...