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the foreign state in order to determine the nature of the
obligations and rights which form the basis of the claim of a
foreign tax credit. Cf. Phillips Petroleum Co. v. Commissioner,
supra; H. H. Robertson Co. v. Commissioner, 8 T.C. 1333 (1947),
affd. 176 F.2d 704 (3d Cir. 1949). In so doing, we note that the
parties are in agreement that the Egyptian tax involved herein
constitutes an "income tax" within the meaning of section 901.
See also Rev. Rul. 82-119, 1982-1 C.B. 105.
The framework for disposition of this case is the merger
concession agreement (MCA) among Amoco Egypt Oil Company (Amoco
Egypt), a wholly owned subsidiary of petitioner, the Egyptian
General Petroleum Corporation (EGPC), an Egyptian public
authority, and the Arab Republic of Egypt (ARE).
There is no dispute between the parties that, absent the
particular circumstances involved herein, petitioner would be
entitled to the claimed credit in respect of the amounts of such
tax claimed to have been paid to the ARE by EGPC on Amoco Egypt's
behalf out of EGPC's share of the oil production. Additionally,
we note that respondent does not contend that any portion of such
amounts represents a disguised payment for Amoco Egypt's
undertakings under the MCA.
The issues herein are grounded on the effect to be given to
Article IV(f)(6) of the MCA and its interpretation and
application by EGPC. Article IV(f)(6) provides in its English
version:
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