group election is irrevocable and must be consistently applied to all CFCs
, including any subsequently acquired CFCs
FC1, FC2, and FC3 are CFCs
. X Corp, Y Corp, PRS, FC1, FC2, and FC3 all use the calendar year as their tax year.
corporations that held such control over 83,642 CFCs
. All statistics in this article pertaining to CFCs
meet the definition.
Furthermore, in situations where the CFC
carries on selling or manufacturing activities through a branch in a foreign country, the Internal Revenue Code and regulations impose a branch rule causing the foreign branch to be treated as a foreign subsidiary of the CFC
(the branch rule).13 The branch rule is imposed because, without it, a CFC
could easily bypass the FBCSI rules.
The production of CFCs
is being phased out worldwide under the terms of an international agreement called the Montreal Protocol on Substances that Deplete the Ozone Layer.
CYDSA's move to eliminate production of CFCs
at the Quimobasicos plant has wider repercussion on the effort to eliminate the harmful chemical at the global level.
The import of the CFCs
is banned in Japan but the gas is still used in air conditioners of older model cars.
But the persistent trade in illegal CFCs
is only one sign that ozone recovery is far from a sure thing.
From 85 to 90 percent of a CFC
blowing agent ends up in the bubbles, or cells, in the foam, but the remainder is released to the atmosphere.
India, the world's second largest CFC
producer, will phase out production of ozone depleting substances through a multimillion dollar grant project implemented through the World Bank.
Law enforcement officials in the Dutch city of Rotterdam and other ports in Europe are beginning to grapple with a problem that their counterparts in Miami know all too well: the illicit trade in chlorofluorocarbons (CFCs
), which destroy the Earth's protective ozone layer.
The World Bank has launched a fund to enable Russia to stamp out the illegal trade by meeting its obligations under a decade-old Montreal protocol and phase out the manufacture of chlorofluorocarbons (CFCs
) as well as other ozone destroying substances.