Rev. Rul. 55-105

The Internal Revenue Service has no comprehensive list of all the countries includible in the geographical territories referred to in section 921 of the Internal Revenue Code of 1954, relating to Western Hemisphere trade corporations. The Virgin Islands, Puerto Rico, the Greater Antilles, the Lesser Antilles, the Bahamas and the islands off the coast of Venezuela, in addition to the numerous islands in the West Indies, are considered to be Western Hemisphere trade corporation countries. See I.T. 3748, C.B. 1945, 152, and I.T. 4067, C.B. 1951-52, 55. However, neither Bermuda nor the Falkland Islands are considered to be Western Hemisphere trade corporation countries. See I.T. 3990, C.B. 1950-1, 57. Alaska, being a territory of the United States and therefore an integral part of this country, is not a country in North America within the contemplation of this section