As per U.S.corporate tax laws, which of the following statements is true of a company that is incorporated in the U.S.and has a branch in a foreign country?
A) The credit for the amount of taxes already paid is given to arrange for double taxation.
B) The credit for the amount of taxes already paid is given to charge for the taxes not paid in the home country.
C) The credit for the amount of taxes already paid is given to refund the taxes already paid in the home country.
D) The credit for the amount of taxes already paid is given to give relief for the taxes paid in foreign country.
Correct Answer:
Verified
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