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Document Type: Tax Law Article
Law: CIT (FDL No 47 of 2022)
Article Number: 47
Country: 🇦🇪 UAE
Location: Chapter 13 - Calculation of Corporate Tax Payable
Order: 47

Article 47 - Foreign Tax Credit

Chapter 13 - Calculation of Corporate Tax Payable

Article 47 - Foreign Tax Credit

[GTL Notes]

  1. Corporate Tax due under Article 3 of this Decree-Law can be reduced by the amount of Foreign Tax Credit for the relevant Tax Period.

  2. The Foreign Tax Credit under this Decree-Law cannot exceed the amount of Corporate Tax due on the relevant income.

  3. Any unutilised Foreign Tax Credit as a result of Clause 2 of this Article cannot be carried forward or carried back.

  4. A Taxable Person shall maintain all necessary records for the purposes of claiming a Foreign Tax Credit.