This preview shows page 1. Sign up to view the full content.
Unformatted text preview: jurisdiction to tax the particular income; the Income Tax Act offers, at most, a reduction of Canadian tax by the amount paid to the foreign jurisdiction on the same income * Although double taxation is avoided when income is taxed simultaneously by the Canada and a foreign country, the result is that the rate of tax paid on foreign income by the Canadian entity will always equal the tax rate imposed by the country with the higher tax rate...
View Full Document
This note was uploaded on 02/05/2012 for the course ACC 522 taught by Professor A.vena during the Spring '11 term at Ryerson.
- Spring '11