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26 U.S.C. § 5000C - U.S. Code - Unannotated Title 26. Internal Revenue Code § 5000C. Imposition of tax on certain foreign procurement

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Imposition of tax.--There is hereby imposed on any foreign person that receives a specified Federal procurement payment a tax equal to 2 percent of the amount of such specified Federal procurement payment.

(b) Specified Federal procurement payment.--For purposes of this section, the term “specified Federal procurement payment” means any payment made pursuant to a contract with the Government of the United States for--

(1) the provision of goods, if such goods are manufactured or produced in any country which is not a party to an international procurement agreement with the United States, or

(2) the provision of services, if such services are provided in any country which is not a party to an international procurement agreement with the United States.

(c) Foreign person.--For purposes of this section, the term “foreign person” means any person other than a United States person.

(d) Administrative provisions.--

(1) Withholding.--The amount deducted and withheld under chapter 3 shall be increased by the amount of tax imposed by this section on such payment.

(2) Other administrative provisions.--For purposes of subtitle F, any tax imposed by this section shall be treated as a tax imposed by subtitle A.

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Cite this article: FindLaw.com - 26 U.S.C. § 5000C - U.S. Code - Unannotated Title 26. Internal Revenue Code § 5000C. Imposition of tax on certain foreign procurement - last updated January 01, 2024 | https://codes.findlaw.com/us/title-26-internal-revenue-code/26-usc-sect-5000c/

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