QFTI

(redirected from Qualifying Foreign Trade Income)
AcronymDefinition
QFTIQualifying Foreign Trade Income (US law)
References in periodicals archive ?
This exclusion allows businesses to deduct qualifying foreign trade income from their U.
Qualifying foreign trade income is computed as 30 percent of foreign sale and leasing income, 1.
Qualifying foreign trade income is defined as the greatest of the following income, that, when excluded, would reduce taxable income by (a) 1.
Qualifying foreign trade income is the amount of gross income the exclusion of which will result in a reduction in taxable income equal to the greatest of three alternative measures: (i) 15 percent of the taxpayer's foreign trade income; (ii) 1.
The definition of qualifying foreign trade income operates to determine a net reduction in taxable income.
The first alternative measure for determining qualifying foreign trade income is 15 percent of the taxpayer's foreign trade income.
The second alternative measure for determining qualifying foreign trade income is 1.
The amount of qualifying foreign trade income that may be derived from use of the 1.
2 percent of gross receipts method to determine the qualifying trade income from a transaction, other transactions involving such property by the taxpayer or any related person will not generate any qualifying foreign trade income.
The third alternative measure for determining qualifying foreign trade income is 30 percent of the "foreign sale and leasing income" derived by the taxpayer.
Under each of the alternative formulations described above, qualifying foreign trade income generally is determined with respect to a particular transaction.
As under the FSC provisions, section 941(a)(5) provides for the reduction of qualifying foreign trade income by the amount of any illegal bribe or similar payment and by the international boycott factor.