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Glossary   >   F   >   "Foreign tax credit" Definition            Foreign tax credit Home country credit against domestic income tax. Received in return for foreign taxes paid on foreign derived earnings. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Foreign tax credit - Home country credit against domestic income tax. Received in return for foreign taxes paid on foreign derived earnings.