52 STAT.] T7TH CONG. , 3D SESS.-CH. 2S9-MAY 28, 1938 SEC. 232. DEDUCTIONS. (a) IN GENERAL. -In the case of a foreign corporation the deduc- tions shall be allowed only if and to the extent that they are con- nected with income from sources within the United States; and the proper apportionment and allocation of the deductions with respect to sources within and without the United States shall be determined as provided in section 119, under rules and regulations prescribed by the Commissioner with the approval of the Secretary. (b) CHARITABLE, AND So FORTH, CONTRIBUTIONS.-The so-called "charitable contribution" deduction allowed by section 23 (q) shall be allowed whether or not connected with income from sources within the United States. SEC. 233. ALLOWANCE OF DEDUCTIONS AND CREDITS. A foreign corporation shall receive the benefit of the deductions and credits allowed to it in this title only by filing or causing to be filed with the collector a true and accurate return of its total income received from all sources in the United States, in the manner pre- scribed in this title; including therein all the information which the Commissioner may deem necessary for the calculation of such deductions and credits. SEC. 234. CREDITS AGAINST TAX. Foreign corporations shall not be allowed the credits against the tax for taxes of foreign countries and possessions of the United States allowed by section 131. SEC. 235. RETURNS. (a) TIME OF FILNaG. -In the case of a foreign corporation not having any office or place of business in the United States the return, in lieu of the time prescribed in section 53 (a) (1), shall be made on or before the fifteenth day of the sixth month following the close of the fiscal year, or, if the return is made on the basis of the calen- dar year then on or before the fifteenth day of June. If any foreign corporation has no office or place of business in the United States but has an agent in the United States, the return shall be made by the agent. (b) EXEMPrION FROM REQUIREMENT.-Subject to such conditions, limitations, and exceptions and under such regulations as may be prescribed by the Commissioner, with the approval of the Secretary, corporations subject to the tax imposed by section 231 (a) may be exempted from the requirement of filing returns of such tax. SEC. 236. PAYMENT OF TAX. (a) TIME OF PAYMENT. -In the case of a foreign corporation not having any office or place of business in the United States the total amount of tax imposed by this title shall be paid, in lieu of the time prescribed in section 56 (a), on the fifteenth day of June following the close of the calendar year, or, if the return should be made on the basis of a fiscal year, then on the fifteenth day of the sixth month following the close of the fiscal year. (b) WITHHOLDING AT SOURCE. - For withholding at source of tax on income of foreign corporations, see section 144. SEC. 237. FOREIGN INSURANCE COMPANIES. For special provisions relating to foreign insurance companies, see Supplement G. 531 Deductions. In general. Apportionment, etc. Ante, p. 503 . Charitable, etc. , contributions. Ante, p. 464. Allowance of deduc- tions and credits. Credits against tax. Ante, p. 506. Returns. Time of filing. Ante, p. 477. Return by agent. Exemption from re- quirement. Ante, p. 530. Payment of tax. Time specified. Ante, p. 478. Withholding at source. Ante, p. 513. Foreign insurance companies. Special provisions. Ante, p. 522.
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