Double taxation relief: tax credit limits and accounting for exempt income when computing remaining tax liability. Article 24 requires each Contracting State to allow a deduction from domestic tax of an amount equal to tax paid in the other State on income or capital, limited to the portion of domestic tax attributable to that foreign taxed income or capital; it also allows the residence State to take into account treaty exempt income or capital when calculating tax on the remaining taxable base.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Double taxation relief: tax credit limits and accounting for exempt income when computing remaining tax liability.
Article 24 requires each Contracting State to allow a deduction from domestic tax of an amount equal to tax paid in the other State on income or capital, limited to the portion of domestic tax attributable to that foreign taxed income or capital; it also allows the residence State to take into account treaty exempt income or capital when calculating tax on the remaining taxable base.
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