Foreign tax credit or ftc scheme

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Foreign tax credit or FTC Scheme

If the tax rate in Canada (40%) is greater than in the US (34%), what is the tax treatment under the FTC scheme for bringing cashflows from Canada into the US?

You are an assistant to the CFO at Home Depot. She wants you to provide very short responses for following questions:

If the tax rate in Mexico (20%) is less than the tax rate in the US (34%), what is the tax treatment under the FTC scheme for bringing cashflows from Mexico into the US?

Reference no: EM133068114

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