Page 103 - P6 Slide Taxation - Lecture Day 7 - Various Topics

Calculation of the rebate

The rebate available to the resident is equal to the sum of

all taxes on income proved to be payable to any sphere of

a foreign government (foreign taxes) on the above

amounts included in the resident’s taxable income. This

tax should have been paid by (s 6 quat (1A))

• the resident, in the case of foreign sourced income or

capital gains

• by the person who actually received amounts

attributed or vested in the resident, in relation to

amounts deemed to have accrued to the resident, or

• the controlled foreign company, in the case of

proportional amounts of net income.

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