Foreign Tax Credit Advisory
Foreign Tax Credit (FTC) allows you to receive a credit for the income taxes paid to a foreign government, cutting the taxes you owe. This credit is available to anyone with income from a foreign source, such as those working or investing abroad, for instance, freelancing on international freelancing websites.
Among all the Gulf countries (GCC), FTC only implies two countries: Kuwait and Oman. To claim the credit, you must file a tax return in the country you love. You will need to provide information about your foreign income, taxes paid, and the country where the taxes were paid.
At Avyanco, We Make Taxation Easy With Our Team of Experts
FTCs can be given even without a tax treaty with the source country. Our team provides advice and guidance on how to claim foreign tax credits (FTC) under respective country tax laws and double taxation agreements. We also advise on eligibility criteria for FTC and compliance/document obligations. With us, you can save time and money as our team of professionals is here to help you maximize your tax savings.