Taiwan's Ministry of Finance has issued a notice clarifying that profit-seeking enterprises cannot claim a foreign tax credit for overpaid foreign taxes in treaty countries if they fail to apply for tax treaty benefits in the source country.
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Profit-seeking Enterprises Cannot Claim Credit for Overpaid Foreign Taxes on Offshore Income from Tax Agreement Countries Due to Failure to Apply for Tax Treaty Benefits
Profit-seeking enterprises deriving income from countries that have signed t…