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Posted by parrisbraeside@yahoo.ca on September 1, 2007, 12:07 am
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ddl@danlan.*com (Dan Lanciani) wrote:
> That brings me back to my other question. Are you allowed
> a credit for foreign taxes that were withheld even though
> you might not have owed them and possibly could have had
> some of them refunded had you done the paper work?
No
You may do this only if the taxes payable exceed the treaty
withholding rate. If you are entitled to some back, you can
only the claim the amount payable.
That being said, there are those who will use the amounts
withheld as as amounts paid. They are gambling that the
taxing authority will not catch this.
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