Canadian tax policy requires that a ________ is given for foreign taxes paid up to the amount of the ________.

Question

Quizplus · Accepted Answer

Canadian tax policy allows for a full tax credit for foreign taxes paid up to the amount of the Canadian tax liability. This means that individuals or businesses can offset their Canadian tax liability by the amount of foreign tax they have paid, up to the same amount. This helps to prevent double taxation on income earned in foreign countries.

Canadian Tax Policy Requires That a ________ Is Given for Foreign