Tax Waze by Bustamante Lozada and Associates
Foreign Tax Credit - Printable Version

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Foreign Tax Credit - admin - 06-02-2019

When a taxpayer has paid income taxes to a foreign country on income for which he may also be liable for Philippine income tax, he may claim such income taxes paid to a foreign country either as:
a. Tax credit against the Philippine income tax due; or
b. Deduction from gross income