11.1804 Exemption of Foreign Sales Corporation shareholders.

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No tax shall be imposed pursuant to sections 871(a)(l) and 881 of the Samoa Income Tax Act upon citizens and residents of the United States and upon corporations organized under the laws of any state of the United States with respect to items of income realized from sources within American Samoa from Qualifying American Samoa Foreign Sales Corporation (within the meaning of 11.1807) of which such citizens, residents or corporations are shareholders.

History: 1984, PL 18-54