PTG Consultant L.L.C
Foreign Tax Credit (FTC) Advisory
Foreign Tax Credit (FTC) Advisory
The Foreign Tax Credit (FTC) allows individuals to receive a credit for income taxes paid to a foreign government due to foreign income tax withholdings. This credit applies to anyone earning income from foreign sources, whether through employment or investments abroad.
In the GCC, the FTC is applicable in Kuwait and Oman. In Kuwait, the credit is available when permitted under the Double Taxation Avoidance Agreement (DTAA). In Oman, FTC approval is granted on a case-by-case basis by the Director of Taxation, even in the absence of a tax treaty with the source country.
At PROTAX Corporate Services, our tax experts offer comprehensive guidance through the process, including:
- Advice on claiming FTC under the relevant country’s tax laws and DTAAs
- Guidance on eligibility requirements and compliance/documentation obligations.
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