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npv

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AFM Exams › npv

  • This topic has 1 reply, 2 voices, and was last updated 2 months ago by John Moffat.
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  • April 4, 2022 at 10:06 am #652685
    shaunak22
    • Topics: 195
    • Replies: 32
    • ☆☆☆

    foreign – 40% tax rate
    Domestic -20% tax rate

    If there is a bilateral treaty we do not any additional tax on the profit earned by the foreign subsided in domestic country

    DOUBT- But if there is foreign country has given concession of zero tax in first two year. IN THIS CASE do we pay additional tax on the profit earned by foreign subsidiary in domestic country for the first two years?

    April 4, 2022 at 12:23 pm #652694
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 49583
    • ☆☆☆☆☆

    Yes. Foreign profits are taxed at the domestic tax rate. If there is a bilateral treaty, then any foreign tax suffered can be offset. If there is no foreign tax suffered then there is nothing to offset.

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