or the Secretary of Commerce (as the case may be) shall, not later than 30 days after beginning such negotiations, notify the appropriate committees of Congress of such action. Such notification shall include a description of the manner in which such taxes are being taken into account as required under clause (i). (d) Definitions For purposes of this section— (1) Extraterritorial tax (A) In general The term extraterritorial tax means any tax imposed by a foreign country on a corporation (including any trade or business of such corporation) which is determined by reference to any income or profits received by any person (including any trade or business of any person) by reason of such person being connected to such corporation through any chain of ownership, determined without regard to the ownership interests of any individual, and other than by reason of such corporation having a direct or indirect ownership interest in such person. (B) Tax The term tax includes any increase in tax whether effectuated by an increase in the rate or base of a tax, by a denial of deductions or credits, or otherwise. (2) Discriminatory tax (A) In general Except as otherwise provided in subparagraph (B), the term discriminatory tax means any tax imposed by a foreign country if— (i) such tax applies to items of income that would not be considered to be from sources within the foreign country under the rules of part I of this subchapter if such part were applied by treating such foreign country as though it were the United States, (ii) such tax is imposed on a base other than net income and is not computed by permitting recovery of costs and expenses, (iii) such tax is exclusively or predominantly applicable, in practice or by its terms, to nonresident individuals and foreign corporations or partnerships (as determined under rules similar to paragraphs (4) and (5) of section 7701(a) by treating the foreign country as though it were the United States) because of the application of revenue thresholds, exemptions or exclusions for