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Hi John,
Under the double taxation context where the base country tax is say 5% higher (25% vs 20%) than the foreign country, is the 5% additional tax calculated on the amount remitted back (e.g. 100-20 = 80) or the taxable profit (e.g. 100) in the foreign country?
The extra tax is on the taxable profit in the foreign country. (I do explain this in my free lectures on foreign investment appraisal 🙂 )
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