§4672. Definitions and special rules — Inbound Citations
26 U.S.C. § 4672
Cited by 10 provisions in release 119-102.
Citations to §4672(a)
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(II) such chemical was used as a material in the manufacture or production of a substance which was exported by any person and which, at the time of export, was a taxable substance (as defined in section 4672(a)),
Citations to §4672(a)(1)
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(II) such chemical was used as a material in the manufacture or production of a substance which was exported by any person and which, at the time of export, was a taxable substance (as defined in section 4672(a)),
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(i) has repaid or agreed to repay the amount of the tax to the person who exported the taxable chemical or taxable substance (as so defined), or
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(3) The Secretary shall provide, in regulations, the circumstances under which a credit or refund (without interest) of the tax under section 4661 shall be allowed or made to the person who exported the taxable chemical or taxable substance, where—(A) the person who paid the tax waives his claim to the amount of such credit or refund, and(B) the person exporting the taxable chemical or taxable substance provides such information as the Secretary may require in such regulations.
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(B) the person exporting the taxable chemical or taxable substance provides such information as the Secretary may require in such regulations.
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(a) There is hereby imposed a tax on any taxable substance sold or used by the importer thereof.
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(1) Except as provided in paragraph (2), the amount of the tax imposed by subsection (a) with respect to any taxable substance shall be the amount of the tax which would have been imposed by section 4661 on the taxable chemicals used as materials in the manufacture or production of such substance if such taxable chemicals had been sold in the United States for use in the manufacture or production of such taxable substance.
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(2) If the importer does not furnish to the Secretary (at such time and in such manner as the Secretary shall prescribe) sufficient information to determine under paragraph (1) the amount of the tax imposed by subsection (a) on any taxable substance, the amount of the tax imposed on such taxable substance shall be 10 percent of the appraised value of such substance as of the time such substance was entered into the United States for consumption, use, or warehousing.
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(3) The Secretary may prescribe for each taxable substance a tax which, if prescribed, shall apply in lieu of the tax specified in paragraph (2) with respect to such substance. The tax prescribed by the Secretary shall be equal to the amount of tax which would be imposed by subsection (a) with respect to the taxable substance if such substance were produced using the predominant method of production of such substance.
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(d) Rules similar to the following rules shall apply for purposes of applying this section with respect to taxable substances used or sold for use as described in such rules: