The House of Representatives has passed a sweeping tax reconciliation bill that makes significant changes to the U.S. energy tax credit regime.

Every province and territory allows a corporation to claim a foreign tax credit for taxes it paid to another country on foreign non-business income. This credit reduces the provincial tax otherwise ...

Members of the solar industry were particularly disturbed by strict foreign entity of concern restrictions slapped on carbon neutral and manufacturing credits. The restrictions would apply to ...

has ruled that a delay in filing the requisite Form 67 should not be the sole basis for denying a claim for Foreign Tax Credit (FTC). The Tribunal’s ruling came in the case of Uttamkumar Tukaram Patil ...

Amid the swirl of the Trump administration’s nascent plans to “Make Hollywood Great Again,” California is on the verge of revamping its Film & TV Tax Credit Program in the hopes of ...

Summary: Indian residents earning income abroad that is also taxed in India can seek relief from double taxation through the Foreign Tax Credit (FTC) mechanism. Available under Section 90 or 90A of ...

In late October 2024, the United States Court of Appeals for the Eleventh Circuit ruled in Romano v. Hancock Life Insurance Company, F.4th 729 (11th Cir. 2024) that certain foreign tax credits ...