Subject to conditions and limitations, foreign tax credits are available for foreign income taxes paid.

Where foreign-sourced income is included in a taxpayer's assessable income, foreign income tax offsets are available at the lesser of the foreign tax paid or the Australian tax payable.

See below under Double Taxation Treaties.

Foreign tax credits are available for foreign taxes paid, subject to limitations.

Subject to conditions and limitations, foreign tax credits are available for foreign income taxes paid.

Subject to certain limitations and restrictions, foreign tax credits or deductions may be available to be claimed in respect of certain foreign taxes paid.

Income tax liability arising from foreign-sourced income derived by Chilean residents can be offset with taxes paid abroad on such income (imputation of foreign tax credits).

Foreign income tax paid by directly or indirectly owned foreign subsidiaries of a resident enterprise may be credited against the resident enterprise's income tax payable in China, subject to certain limitations.

Any unused foreign tax credit may be carried forward for 5 years.

Colombian tax residents that receive foreign-source income subject to income tax in the source country are entitled to a tax credit in Colombia for income tax purposes. Foreign tax credits cannot exceed the Colombian income tax attributable to the net foreign taxable income but it is possible to carry forward indefinitely the unused foreign tax. The Colombian taxpayer must obtain a certification of the foreign tax paid.

Foreign tax credits are not allowed if the tax was applied on income qualified for tax purposes as a Colombian source income. Different rules apply under double taxation treaties.

Foreign taxes paid on income subject to Finnish taxation can be credited under the Finnish tax credit system.

No credit is given for the underlying corporate income taxes levied abroad, and, unless a relevant double tax treaty provides, foreign withholding taxes levied on the income received in France are not creditable against French tax on that income. Foreign tax paid in a tax treaty country may not be deducted from taxable income.

Under German domestic tax law, income from foreign sources is usually taxable, with a credit for the paid foreign income taxes, up to the amount of German tax payable on the foreign-source income, subject to per-country limitations. Excess foreign tax credits cannot be carried back or carried forward. In general, German tax treaties provide for an exemption from German taxation of income from foreign sources except for dividends from direct shareholdings of less than 10 percent and interest. In some cases, the exemption under German tax treaties are subject to substance or activity requirements.

If foreign taxes are payable/paid on income derived from a jurisdiction where Hong Kong has a double taxation arrangement with and the same income is subject to tax in Hong Kong, a full credit for tax paid may be available in Hong Kong.

In addition, if foreign taxes are payable/paid on specified foreign-sourced income deemed taxable under the refined FSIE regime, foreign tax credits are available regardless of whether the jurisdiction has a double taxation arrangement with Hong Kong or not.

Double tax treaties

Hungary has signed more than 70 double taxation treaties with other countries to avoid double taxation of income or gains. According to these, foreign taxes paid on foreign-source income may be credited against Hungarian tax, or the foreign source income may be exempted.

Subject to limitations, foreign tax credits are available for foreign taxes paid. The foreign tax credit is governed by the clauses of the relevant Tax Treaty (relief from double taxation). Further, the Central Board of Direct Taxes has also promulgated Foreign Tax Credit Rules.

Ireland operates a credit system in respect of tax (including withholding tax and underlying tax) paid on dividends, interest and royalties. Onshore dividend pooling of foreign dividends is also available.

Israel grants a tax credit for taxes paid to a foreign jurisdiction on foreign source income. The credit is subject to certain restrictions including the application of the "baskets method."

Subject to limitations, foreign tax credits are available for foreign taxes paid.

The foreign taxes levied on a Japanese domestic corporation in the ordinary course of its business may be credited against Japanese corporate tax.

A Luxembourg tax resident company is taxed on its worldwide income. Foreign-source income is taxable in Luxembourg, unless a double tax treaty (DTT) provides for an exemption. Dividends from foreign subsidiaries are also taxed, unless a DTT provides for an exemption.

Profits of a foreign branch that are not exempt under a DTT may benefit from a foreign tax credit. Taxes paid in excess of the tax credit are deductible as expenses.

A tax credit is allowed for foreign income tax paid or deemed paid by Mexican corporations, but the credit is generally limited to the amount of Mexican tax incurred on the foreign-source portion of the company’s worldwide taxable income.

Subject to certain limitations, foreign tax credits and deductions are available to resident companies on foreign taxes paid, either in terms of domestic legislation or applicable tax treaties.

Subject to limitations, foreign tax credits are available for foreign taxes paid.

Foreign taxes paid on income subject to Norwegian taxation may be credited under the Norwegian tax credit system.

Resident taxpayers may deduct the foreign income taxes paid abroad under certain limits. Foreign tax credits may be offset only in the corresponding fiscal year – they cannot be offset in other fiscal years.

Foreign tax credits are available under domestic law and under relevant tax treaties.

Foreign taxes paid on income subject to Portuguese taxation can be credited under the Portuguese tax credit system, subject to certain limitations.

Subject to limitations and the availability of supporting documentation, foreign tax credits are available for foreign taxes paid.

A tax credit for the amount of foreign tax paid on foreign sources of income is generally available, but it is subject to a limit of the maximum amount of Russian tax due on the same income.

Singapore resident companies may claim foreign tax credit for tax paid in a foreign jurisdiction (including tax treaty and non-tax treaty jurisdictions) against the Singapore tax payable on the same income, subject to certain conditions. The amount of allowable foreign tax credit is capped at the lower of the foreign tax paid and the Singapore tax that would have been payable after permissible deductions under the ITA.

A foreign tax credit pooling system is available, subject to certain conditions.

Subject to certain limitations, foreign tax credits and deductions are available to SA residents on foreign taxes paid, either in terms of domestic legislation or applicable tax treaties.

Foreign tax credits are available for foreign taxes paid. A "deemed" foreign tax credit may be available for reduced taxes by tax treaties, and an "indirect" foreign tax credit also may be available for taxes paid by foreign subsidiaries on profits repatriated to domestic corporations.

If the participation exemption does not apply, withholding taxes and underlying tax can be deducted, under certain rules.

Foreign taxes paid on income subject to Swedish taxation may be credited under the Swedish tax credit system.

Switzerland primarily applies the tax exemption method in its tax treaties. On certain income streams (dividend, interest and license fees), source tax may be credited against the tax levied in Switzerland.

A foreign tax credit is available for income tax paid in other countries on income derived outside of Taiwan and may be used to offset the foreign tax paid against a Taiwan company’s tax liability.

Foreign tax credits are available for foreign taxes paid, up to the amount of the corporate tax in Turkey attributable to the foreign income. The credits which are not used may be carried forward for 3 years. The limit for a foreign tax credit is a corporate tax attributable to foreign income in Turkey.

Upon availability of a valid and legalized certificate confirming payment of taxes abroad, such taxes may be credited against taxes due in Ukraine; however, the credit may not exceed the amount of domestic tax due.

Not applicable for this jurisdiction.

Subject to limitations, foreign tax credits are available for foreign taxes paid. In the relatively rare situations where dividends received from overseas subsidiaries are not completely exempt from UK corporation tax, the amount of tax payable on the dividend will be subject to a credit for foreign tax paid or withheld by the subsidiaries (subject to a cap to combat certain avoidance structures).

Subject to limitations, foreign tax credits may be available for foreign taxes paid.  An "indirect" foreign tax credit may be available to domestic corporations for taxes paid by on Subpart F income or GILTI income or distributions of previously taxed income.

Tax credits for foreign tax paid may be available in terms of a double taxation agreement (DTAs).

Zimbabwe has entered into comprehensive DTAs with the following countries: Botswana, Bulgaria, Canada, France, Germany, Malaysia, Mauritius, Namibia, Netherlands, Norway, Poland, South Africa, Sweden, the UK and China.

Zimbabwe has pending DTAs with Indonesia, Namibia, Singapore, the Seychelles, Switzerland, Tanzania, Thailand, Tunisia, Yugoslavia, Zambia, the Democratic Republic of Congo, Iran, and Serbia and Montenegro.