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interest equalization tax

   Also found in: Wikipedia 0.03 sec.
Interest equalization tax
Tax on foreign investment by residents of the US which was abolished in 1974.
interest equalization tax
A tax, no longer in effect, that was levied on income received from foreign securities owned by U.S. residents. By discouraging investment in foreign securities, the tax was intended to prevent an outflow of U.S. dollars.
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