Rev. Rul. 67-132
Rev. Rul. 67-132; 1967-1 C.B. 313
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Citations: Rev. Rul. 67-132; 1967-1 C.B. 313
Obsoleted by Rev. Rul. 74-625
A United States person acquired a debt obligation of the World Bank (International Bank for Reconstruction and Development). Held , since the United States is a member of the World Bank, that organization is not a foreign issuer or obligor as defined in section 4920(a)(3) of the Internal Revenue Code of 1954. Accordingly, the acquisition of its debt obligation is not subject to the interest equalization tax imposed by section 4911 of the Code.
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