And then the contract might involve approval from a Singapore parent corporation, a finance subsidiary in a third country with a favorable tax treaty, collateral in six other countries, an Iranian party that raises concerns regarding US sanctions and a German party that cannot join such sanctions under German antiboycott laws
, and an American party who triggers new US tax reporting rules.
are included in the Export Administration Act of 1979 (EAA) and the Ribicoff Amendment to the Tax Reform Act of 1976 (TRA).
Because the United States does not wish to infringe upon the right of any country to choose its own trading partners, the antiboycott laws
do not target primary
, OFAC Sanctions, Export Controls, and the Economic Espionage Act, in NEGOTIATING AND STRUCTURING INTERNATIONAL COMMERCIAL TRANSACTIONS 200-03 (Mark R.
antiboycott laws do in that a change in market position or terminating business in the boycotted country can create criminal liability.
antiboycott laws prohibit citizens from disclosing information about business relationships with boycotted countries or blacklisted persons.
, sanctions administered by the Treasury Department's Office of Foreign Assets Control (OFAC) and the Foreign Corrupt Practices Act (FCPA).
Because the United States does not wish to infringe on the right of any country to choose its own trading partners, the antiboycott laws do not target such boycotts.
The other antiboycott law is the Ribicoff Amendment to the Tax Reform Act of 1976 (TRA76).
The Antiboycott Laws
In the 1970s, the United States Congress responded to the Arab League's boycott of Israel by passing legislation designed to discourage U.
The Export Administration Act, enacted in 1969, was amended in 1977 to include the antiboycott laws