31 CFR § 597.508

31 CFR · Money and Finance: Treasury

§ 597.508 — Payment of taxes and incidental fees to the Palestinian Authority.

31 CFR § 597.508

TitleTitle 31: Money and Finance: Treasury PartPart 597: Foreign Terrorist Organizations Sanctions Regulations

SourceeCFR (current through Mar 30, 2026)

This text of 31 C.F.R. § 597.508 (Payment of taxes and incidental fees to the Palestinian Authority.) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

31 C.F.R. § 597.508 (2026).

Text

§ 597.508 Payment of taxes and incidental fees to the Palestinian Authority.

(a)Effective April 12, 2006, U.S. financial institutions are authorized to conduct all transactions ordinarily incident to the following activities by U.S. persons: the payment of taxes or fees to, or the purchase or receipt of permits or public utility services from, the Palestinian Authority where such transactions are necessary and ordinarily incident to such persons' day-to-day operations. Nothing in this license authorizes a debit to an account of the Palestinian Authority on the books of a U.S. financial institution or to any account blocked pursuant to this part.

(b)The retention and reporting provisions of § 597.201 shall not apply with respect to transactions authorized by paragraph (a) of this section

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§ 597.508 Payment of taxes and incidental fees to the Palestinian Authority.

(a) Effective April 12, 2006, U.S. financial institutions are authorized to conduct all transactions ordinarily incident to the following activities by U.S. persons: the payment of taxes or fees to, or the purchase or receipt of permits or public utility services from, the Palestinian Authority where such transactions are necessary and ordinarily incident to such persons' day-to-day operations. Nothing in this license authorizes a debit to an account of the Palestinian Authority on the books of a U.S. financial institution or to any account blocked pursuant to this part.

(b) The retention and reporting provisions of § 597.201 shall not apply with respect to transactions authorized by paragraph (a) of this section.

[71 FR 27202, May 10, 2006]