- 71 - tax credit purposes whether EGPC took a credit. Respondent's assertion of ratification confuses knowledge (which Amoco and Amoco Egypt had) with approval (which they did not give). Respondent emphasizes that, in Amoco's ruling requests, Amoco never stated that EGPC was claiming a credit for taxes paid on Amoco Egypt's behalf. We are not persuaded that, given its view as to the governmental status of EGPC, Amoco was obligated to detail the factual basis for its assertion that no subsidy was involved, see infra p. 91. In any event, any failure on the part of Amoco to discharge any such obligation would simply be with respect to Amoco's ability to rely on those rulings. Neither the rulings nor the facts on which they were premised are relevant to our determination. Of greater significance than the foregoing analysis of the meaning of Article IV(f)(6) and the relevant Egyptian tax law is the ruling of the ETD to which we now turn our attention. From 1975 to 1992, EGPC claimed a credit each year against its income taxes for Amoco Egypt's income taxes, and its actions were not challenged by the ETD for the taxable years through June 30, 1980. In 1992, after reviewing the MCA, the ETD determined that EGPC was not entitled to such credit. EGPC, at the urging, and with the approval, of the Minister of Petroleum, acquiesced in the ETD determination and agreed to pay back taxes, calculated on the basis of a deduction of Amoco Egypt's taxes.Page: Previous 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 Next
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