Under U.S.tax law,what is the basis for the overall foreign tax credit limitation?
A) to make sure that foreign governments get their fair share of a foreign subsidiary's income
B) to ensure that the foreign tax credit taken by a corporation does not exceed the actual foreign tax it paid
C) to make sure that the foreign tax credit taken by a corporation does not exceed the amount of taxes the foreign affiliate would have paid in the U.S.
D) to minimize world-wide taxes on the U.S.corporation
Correct Answer:
Verified
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