Fairness and Equity Tax Act of 1995

Fairness and Equity Tax Act of 199 5 - Amends the Internal Revenue Code to impose, with specified exceptions, a minimum tax on: (1) a domestic corporation which is 25 percent foreign-owned; or (2) a foreign corporation which has gross income which is effectively connected with the conduct of a trade or business within the United States and has substantial foreign-related person transactions during the taxable year.