The foreign tax credit can help mitigate the impact of the alternative minimum tax (AMT) for taxpayers with income taxed abroad. While the AMT limits certain deductions and credits, it does allow a ...

Under the Corporate Income Tax (CIT) law 1, a Resident Person, whether a juridical or natural person, is subject to tax on its worldwide income, including income derived from foreign sources. Foreign ...

When your financial life involves more than one country, taxes can get complex. This is true for expats, dual citizens, ...

Illinois state lawmakers are severing new federal business tax cuts. Their quest to keep more cash will cost the state in ...

In the wake of the news of state-aid investigations by the European Union and the EU’s order that Apple Inc. repay $14.5 billion in Irish tax breaks, the IRS announced in September that it intends to ...

The Joint International Tax Shelter Information Centre—an organization of tax administrators from Australia, Canada, the United Kingdom and the United States—recently focused on transactions by U.S.

You can never escape Uncle Sam. The U.S. and Eritrea are the only two countries in the world where taxes aren’t based on residency. That means no matter where Americans live, they’re subject to U.S.

Indian residents earning income abroad, such as consultancy or technical fees, can claim Foreign Tax Credit (FTC) to avoid ...

Foreign tax credit, or FTC, is a key provision in international taxation that helps residents avoid double taxation. When a taxpayer earns income abroad and pays tax in a foreign country, FTC allows ...