Foreign Tax Credit Calculator
Foreign Tax Credit: a planned Super Calculator tool. Covers foreign income by category (currency). Stub page while the tool and its worked example are prepared.
Foreign Tax Credit Calculator is a planned calculator in the tax section of Super Calculator, covering investment tax.
What this calculator will compute
Inputs: foreign income by category (currency), foreign tax paid (currency), total income (currency) and residence country liability (currency).
Outputs: allowable credit (currency), excess carried forward (currency) and limitation by basket (currency).
Formula, recorded as scope and not yet verified against a primary source: The credit is limited to the residence country tax attributable to foreign source income, computed as total liability multiplied by foreign source income over total income, with separate limitation baskets for passive and general category income and carryover of the excess.
Status
This page is a stub. The calculator is not built, no figure on this page has been verified against the authority that sets it, and nothing here should be used to make a decision. The page exists so that the site structure is complete and so that articles can link this concept on first mention.
The stub carries noindex, nofollow and is excluded from the sitemap.