Monday 21 November 2022

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USA Released Regulations on Foreign Tax Credit on 18th November, 2022


The US has released long-awaited proposed regulations on foreign tax credits, providing further guidance on 18th November, 2022

(1) reattribution asset rule for purposes of allocating and apportioning foreign taxes;


(2) cost recovery requirement; and


(3) attribution rule for withholding tax on royalty payments.



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