You will be able to deduct these from your U.S. tax bill, yet make sure the credit for foreigntaxpaid won't open you up to the dreaded alternative minimum tax.
The U.S. government generally gives companies operating in foreign countries a tax credit to offset the foreign taxes paid, so the companies are not taxed twice on the same foreign income.
Every dollar a company pays to a foreign government will ultimately cost the U.S. treasury a dollar because the U.S. must provide a dollar-for-dollar credit for foreign taxes paid on foreign income, under both the U.S. tax code and bilateral U.S. treaties with most of our major trade and investment partners.
Current rules require companies that generate cash in low tax jurisdictions to pay the standard U.S. corporate rate on repatriated cash, less whatever tax they paid in in a foreign country.