DENIAL OF FOREIGN TAX CREDIT FOR TAXES PAID OR ACCRUED TO SOUTH AFRICA.

SEC. 10231. DENIAL OF FOREIGN TAX CREDIT FOR TAXES PAID OR ACCRUED TO SOUTH AFRICA. (a) General Rule.— Paragraph (2) of section 901(j) (relating to denial of foreign tax credit, etc., with respect to certain foreign countries) is amended by adding at the end thereof the following new subparagraph: “(C) Special rule for south Africa.— “(i) In general.— In addition to any period during which this subsection would otherwise apply to South Africa, this subsection shall apply to South Africa during the period— “(I) beginning on January 1, 1988, and “(II) ending on the date the Secretary of State certifies to the Secretary of the Treasury that South Africa meets the requirements of section 311(a) of the Comprehensive Anti-Apartheid Act of 1986 (as in effect on the date of the enactment of this subparagraph). “(ii) South Africa defined.— For purposes of clause (i), the term ‘South Africa’ has the meaning given to such term by paragraph (6) of section 3 of the Comprehensive Anti-Apartheid Act of 1986 (as so in effect).” 101 STAT. 1330–419 (b) Technical Amendments.— Paragraph (1) of section 901(j) is amended— (1) by striking out “to which” in subparagraph (A) and inserting in lieu thereof “during which”, and (2) by striking out “any country so identified” and inserting in lieu thereof “such country”. (c) Effective Date.— The amendments made by this section shall apply to taxable years beginning after December 31, 1987.