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    IT Definitions - Glossary
 
Foreign Tax Paid

Tax paid on income or gains made in a foreign country. Claim may be made on tax credit relief for foreign tax paid. If a claim is not made for tax credit relief it may be possible to deduct the foreign tax paid from the foreign income (or gains), so that your taxable income (or gains) is the net amount (the foreign income, or gains, less the foreign tax paid).

 
 
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