Which of the following is true about the taxes paid by Canadian-based MNC to Canadian government on the foreign-source income?
A) They are equal to the firm's ordinal income tax rate times the amount of foreign-source income.
B) They are equal to half of the firm's ordinal income tax rate times the amount of foreign-source income.
C) They are equal to the firm's ordinal income tax rate times the amount of foreign-source income minus tax credits on taxes paid abroad.
D) They are equal to zero.
Correct Answer:
Verified
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