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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AFM Exams › tramont
The annual corporation tax rate in Gamala is 20% and Tramont Co currently pays corporation tax at a rate of 30%
per year. Both countries’ corporation taxes are payable in the year that the tax liability arises. A bi-lateral tax treaty
exists between the US and Gamala, which permits offset of overseas tax against any US tax liability on overseas
earnings. The US and Gamalan tax authorities allow losses to be carried forward and written off against future profit for taxation purpose.
hey mike, would you please why tramont co does not pay extra 10% tax on remitted cashflows,
I am confusing about this, rest of question is easy
plz reply