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* Foreign taxes.
(ii Apportionment of foreign taxes.
(iv)Interest on foreign taxes.
Foreign taxes also come up on every audit.
Companies would receive credit for some foreign taxes already paid.
There would be tax credits for foreign taxes actually paid.
The disallowance of foreign taxes under this paragraph (c) shall not affect the time for claiming any deduction or credit for foreign taxes paid.
More than half of the profits pay less than 15 percent in foreign taxes.
His total foreign taxes amounted to nearly $800,000, far more than any other year.
And investors would not be able to deduct the foreign taxes that they pay.
Interestingly, the report also found that these companies paid more in foreign taxes than to the United States government.
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