About: Foreign tax credit

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A foreign tax credit (FTC) is generally offered by income tax systems that tax residents on worldwide income, to mitigate the potential for double taxation. The credit may also be granted in those systems taxing residents on income that may have been taxed in another jurisdiction. The credit generally applies only to taxes of a nature similar to the tax being reduced by the credit (taxes based on income) and is often limited to the amount of tax attributable to foreign source income. The limitation may be computed by country, class of income, overall, and/or another manner.

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rdfs:label	Foreign tax credit (en) 外国税額控除制度 (ja)
rdfs:comment	外国税額控除制度（がいこくぜいがくこうじょせいど）とは、全世界所得課税制度を採用する国が、国際的な二重課税を排除するために、自国での納税額から、外国で稼得された所得（国外源泉所得）に対して課税された部分の税額を控除する仕組みのことである。 (ja) A foreign tax credit (FTC) is generally offered by income tax systems that tax residents on worldwide income, to mitigate the potential for double taxation. The credit may also be granted in those systems taxing residents on income that may have been taxed in another jurisdiction. The credit generally applies only to taxes of a nature similar to the tax being reduced by the credit (taxes based on income) and is often limited to the amount of tax attributable to foreign source income. The limitation may be computed by country, class of income, overall, and/or another manner. (en)
dcterms:subject	Tax credits International taxation Taxation of foreigners
Wikipage page ID	11443664 (xsd:integer)
Wikipage revision ID	1106205972 (xsd:integer)
Link from a Wikipage to another Wikipage	United Kingdom United States Double taxation Germany Controlled foreign corporation Withholding tax Tax credits Edmund Outslay Foreign personal holding company International taxation Taxation of foreigners Switzerland Indonesia
Link from a Wikipage to an external page	http://laws.justice.gc.ca/eng/C.R.C.-C.945/FramesView.html http://laws.justice.gc.ca/eng/I-3.3/index.html http://www.opsi.gov.uk/acts/acts1988/ukpga_19880001_en_1 http://www.cra-arc.gc.ca/tx/tchncl/ncmtx/fls/s5/f2/s5-f2-c1-eng.html http://www.hmrc.gov.uk/manuals/intmanual/INTM160000.htm https://www.irs.gov/app/picklist/list/formsInstructions.html https://www.irs.gov/publications
sameAs	Foreign tax credit Foreign tax credit Foreign tax credit Foreign tax credit Foreign tax credit
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has abstract	A foreign tax credit (FTC) is generally offered by income tax systems that tax residents on worldwide income, to mitigate the potential for double taxation. The credit may also be granted in those systems taxing residents on income that may have been taxed in another jurisdiction. The credit generally applies only to taxes of a nature similar to the tax being reduced by the credit (taxes based on income) and is often limited to the amount of tax attributable to foreign source income. The limitation may be computed by country, class of income, overall, and/or another manner. Most income tax systems therefore contain rules defining source of income (domestic, foreign, or by country) and timing of recognition of income, deductions, and taxes, as well as rules for associating deductions with income. For systems that separately tax business entities and their members, a deemed paid credit may be offered to entities receiving income (such as dividends) from other entities, with respect to taxes paid by the payor entities with respect to the income underlying the income recognized by the member. Systems with controlled foreign corporation rules may provide deemed paid credits with respect to deemed income inclusions under such rules. Some variations on the credit provide for a credit for hypothetical tax to encourage foreign investment (sometimes known as tax sparing). Detailed rules vary among taxation systems. Examples below are given for illustration purposes only and may not reflect the rules in a particular tax system. (en) 外国税額控除制度（がいこくぜいがくこうじょせいど）とは、全世界所得課税制度を採用する国が、国際的な二重課税を排除するために、自国での納税額から、外国で稼得された所得（国外源泉所得）に対して課税された部分の税額を控除する仕組みのことである。 (ja)
prov:wasDerivedFrom	wikipedia-en:Foreign_tax_credit?oldid=1106205972&ns=0
page length (characters) of wiki page	32286 (xsd:nonNegativeInteger)
foaf:isPrimaryTopicOf	wikipedia-en:Foreign_tax_credit
is Link from a Wikipage to another Wikipage of	Entity classification election Multinational corporation 2012 term United States Supreme Court opinions of Clarence Thomas 2012 term United States Supreme Court opinions of Sonia Sotomayor Relinquishment of United States nationality Double taxation Income tax International taxation Tax credit Corporate tax in the United States Passive foreign investment company 988 transaction Alternative minimum tax Foreign personal holding company Golden gimmick Tax exile Green card Accidental American Charles Rangel Income tax in the United States Taxation in the United States National Agricultural and Fisheries Policy Multiple citizenship Tax withholding
is foaf:primaryTopic of	wikipedia-en:Foreign_tax_credit

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