and Create American Jobs Act of 2017 . . (b) Understatements with respect to reportable transactions Section 6662A of such Code is amended by adding at the end the following: (f) Increase in penalty in case of tax haven countries In the case of any portion of a reportable transaction understatement by a corporation for a taxable year which involves a transaction that originates, terminates, or otherwise occurs in a tax haven country (as defined in section 6662(l)(2)), subsection (a) shall be applied with respect to such portion by substituting 40 percent for 20 percent . . (c) Fraud penalty Section 6663 of such Code is amended by adding at the end the following: (d) Increase in penalty in case of tax haven countries In the case of any fraud by a corporation involving an activity occurring in a tax haven country (as defined in section 6662(l)(2)), subsection (a) shall be applied by substituting 100 percent for 75 percent . . (d) Erroneous claim for credit or refund Section 6676 of such Code is amended by redesignating subsection (d) as subsection (e) and by inserting after subsection (c) the following new subsection: (d) Increase in penalty in case of tax haven countries In the case of claim or credit by a corporation for any excessive amount due for credits or refunds involving funds held or invested in a tax haven country (as defined in section 6662(l)(2)), subsection (a) shall be applied by substituting 40 percent for 20 percent . . (e) Willful attempt To evade or defeat tax Section 7201 of such Code is amended by adding at the end the following new sentence: In the case of an attempt by a corporation which involves a tax haven country (as defined in section 6662(l)(2)), the preceding sentence shall be applied by substituting $1,000,000 for $500,000 . . (f) Fraud and false statements Section 7206 of such Code is amended by adding at the end the following new sentence: In the case of an offense by a corporation described in the preceding sentence which involves a tax haven country (as defined in section