Treasury lists boycott countries

U.S. companies must use IRS Form 5713 to report operations in or related to countries participating in international boycotts unsanctioned by the U.S., and to report the receipt of boycott requests and the entering into boycott agreements.    The Treasury Department has issued a current list of countries that require or may require participation in, or cooperation with, an international boycott.
   The list includes Iraq, Kuwait, Lebanon, Libya, Qatar, Saudi Arabia, Syria, the United Arab Emirates, and Yemen.
   U.S. companies must use IRS Form 5713 to report operations in or related to countries participating in international boycotts unsanctioned by the U.S., and to report the receipt of boycott requests and the entering into boycott agreements.
   U.S. regulations deny certain tax benefits to individuals and entities that participate in or cooperate with unsanctioned international boycotts.