Treasury Flags Boycott Buddies: Iraq to Yemen on Watch
Published Date: 7/31/2025
Notice
Summary
The Treasury just updated the list of countries that might ask U.S. businesses to join or help with international boycotts. If you do business with Iraq, Kuwait, Lebanon, Libya, Qatar, Saudi Arabia, Syria, or Yemen, you need to know these rules to avoid tax troubles. This update is official as of July 31, 2025, so stay sharp and keep your money safe!
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
Treasury Lists Boycott Countries
The Department of the Treasury published a current list, under Internal Revenue Code section 999, of countries that require or may require participation in or cooperation with an international boycott. The listed countries are Iraq, Kuwait, Lebanon, Libya, Qatar, Saudi Arabia, Syria, and Yemen; the list is current as of July 31, 2025. If you do business with those countries, this listing applies to you under section 999 of the Internal Revenue Code.
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