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TITLE 26-INTERNAL REVENUE t0ODE with the conduct of a trade or business within the United States, see section 906. (5) For withholding at source of tax on income of for- eign corporations, see section 1442. (Aug. 16, 1954., ch. 736, 68A Stat. 283; Nov. 13, 1966, Pub. L. 89-809, title I, § 104(m)(1), 80 Stat. 1563; Dec. 30, 1969, Pub. L. 91-172, title I. § 101(j)(21), 83 Stat. 528.) AMENDMENTS 1969-Par. (1). Pub. L. 91-172 redesignated former par. (2) as par. (1). Former par. (1) referring to section 512(a) was stricken. Pars. (2) to (5), Pub. L. 91-172 redesignated former pars. (3), (4). (5) and (6) as pars. (2), (3), (4) and (5). 1966-Par. (1). Pub. L. 89-809 redesignated former par. (4) as par. (1). Former par. (1) redesignated as par (6). Par. (2). Pub. L. 89-809 redesignated former par. (3) as par. (2) and, in par. (2) as so redesignated, substitut. ed "foreign corporations carrying on an insurance business within the United States, see section 842" for "foreign insurance companies, see subehapter L (see. 801 and following". Former par. (2) redesignated as par. (3). Par. (3). Pub. L. 89-809 redesignated former par. (2) as par. (3) and, in par. (3) as so redesignated, substitut- ed "sect!on 864(b)" for "section 871(c)". Former par. (3) redesignated as par. (2). Pars. (4). (5). Pub. L. 89-809 added pars. (4) and (5). Former par. (4) redesignated as par. (1). Par, (6). Pub. L. 89-809 redesignated former par. (1) as par. (6). EFFECTIVE DATE OF 1969 AMENDMENT Amendment by Pub. L. 91-172 applicable to taxable years beginning after Dec. 31, 1969, see section 101(k)(2)(B) of Pub. L. 91-172, set out as an Effective Date note under section 4940 of this title. EFFECTIVE DATE OF 1966 AMENDMENT Amendment by Pub. L. 89-809 applicable with re- spect to taxable years beginning after Dec. 31, 1966, see section 104(n) of Pub. L. 89-809, set out as an Ef- fective Date of 1966 Amendment note under section 11 of this title. SUBPART C-MISCELLANEOUS PROVISIONS Sec. 891. Doubling of rates of tax on citizens and corpora- tions of certain foreign countries. 892. Income of foreign governments and of interna- tional organizations. 893. Compensation of employees of foreign govern- ments or international organizations. 894. Income affected by treaty. 895. Income derived by a foreign central bank of issue from obligations of the United States or from bank deposits. 896. Adjustment of tax on nationals, residents, and corporations of certain foreign countries. AMENDMENTS 1966-Pub. L. 89-809, title I, §§ 102(a)(4)(B). 105(c). Nov. 13, 1966, 80 Stat. 1543, 1565, substituted "affected by treaty" for "exempt under treaty" in item 894, in- serted "or from bank deposits" in item 895, and added item 896. 1961-Pub. L. 87-29, § 1(b), May 4, 1961, 75 Stat. 64, added Item 895. § 891. Doubling of rates of tax on citizens and corpo- rations of certain foreign countries Whenever the President finds that, under the laws of any foreign country, citizens or corpora- tions of the United States are being subjected to discriminatory or extraterritorial taxes, the President shall so proclaim and the rates of tax imposed by sections 1, 3, 11, 802, 821, 831, 852, 871, and 881 shall, for the taxable year during which such proclamation is made and for each taxable year thereafter, be doubled in the case of each citizen and corporation of such foreign country; but the tax at such doubled rate shall be considered as imposed by such sections as the case may be. In no case shall this section operate to increase the taxes imposed by such sections (computed without regard to this sec- tion) to an amount in excess of 80 percent of the taxable income of the taxpayer (computed without regard to the deductions allowable under section 151 and under part VIII of sub- chapter B). Whenever the President finds that the laws of any foreign country with respect to which the President has made a proclamation under the preceding provisions of this section have been modified so that discriminatory and extraterritorial taxes applicable to citizens and corporations of the United States have been re- moved, he shall so proclaim, and the provisions of this section providing for doubled rates of tax shall not apply to any citizen or corporation of such foreign country with respect to any tax- able year beginning after such proclamation is made. (Aug. 16, 1954, ch. 736, 68A Stat, 283; Mar. 13, 1956, ch. 83, § 5(6), 70 Stat. 49; June 25, 1959, Pub. L. 86-69, § 3(f)(1), 73 Stat. 140.) AMENDMENTS 1959-Pub. L. 86-69 eliminated reference to section 811. 1956-Act Mar. 13, 1956, inserted reference to sec- tion 811. EFFECTIVE DATE OF 1959 AMENDMENT Amendment by Pub. L. 86-69 applicable only with respect to taxable years beginning after Dec. 31, 1957, see section 4 of Pub. L. 86-69, set out an Effective Date note under section 801 of this title. EFFECTIVE DATE OF 1956 AMENDMENT Amendment by act Mar. 13, 1956, as applicable only to taxable years beginning after Dec. 31, 1954, see sec- tion 6 of act Mar. 13, 1956, set out as an Effective Date of 1956 Amendment note under section 821 of this title. SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 5, 12 of this title. § 892. Income of foreign governments and of interna- tional organizations The income of foreign governments or inter- national organizations received from invest- ments in the United States in stocks, bonds, or other domestic securities, owned by such for- eign governments or by international organiza- tions, or from interest on deposits in banks in the United States of moneys belonging to such foreign governments or international organiza- tions, or from any other source within the United States, shall not be included in gross income and shall be exempt from taxation under this subtitle. (Aug. 16, 1954, ch. 736, 68A Stat. 284.) Page 572