However, this was happening against a background of very high oil prices and cheap foreign credit.
This is not to imply that the Soviet Union no longer enjoys substantial access to foreign credit markets.
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Western governments are not trying to keep foreign banks out of their markets: indeed, foreign credit would be welcome.
Political turmoil is nothing new in Ukraine, but when commodity prices were high and foreign credit cheap it had little impact on the economy.
Bankers have also been hurt by the drying-up of foreign credit.
And by banishing residual fears that Brazil could face a shortfall in external financing this year, the agreement might help Brazilian firms to keep foreign credit lines open.
He recommended their investors begin scaling back on their exposure to global credit, which has been largely positive both in capital gains and, for foreign credit, yielding better than Treasurys and Bunds.
Dividends from publicly traded foreign companies get the 15% rate, but taxpayers are now limited to that rate in claiming the foreign tax credit: If a foreign country withholds a 30% tax, you only get a credit against your U.S. tax bill for half of it.
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For this reason, the U.S. tax rules governing the dollar-for-dollar foreign tax credit require a U.S. company to exhaust all effective remedies to reduce its taxes under foreign law, or else the credit will be denied in other words, U.S. law expects a U.S. company to take responsible measures to reduce its foreign tax liability, because this has long been understood to be in the national interest.
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But until 2005, this foreign tax credit could offset only 90% of the alternative minimum tax they owed.
You pay the tax to Canada but can claim a foreign tax credit with the Internal Revenue Service.
First, for years prior to 2010, he may have had no U.S. tax liability against which to apply a foreign tax credit.
All passive income, which has already been taxed, is exposed to double taxation for which even the foreign tax credit is of no use.
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While the unused foreign tax credit can be applied to future years, it is unlikely that Mr. Johnson will ever see the majority of it.
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For this reason, the foreign tax credit has never been defined as a subsidy by any administration or Congress in any comprehensive study examining energy tax policy.
At least when the income is sourced to the U.K., the athlete can partially alleviate the tax hit by taking a foreign tax credit on their U.S. income tax return.
The foreign tax credit was designed to prevent American companies, like those in the oil and natural gas industry, from being double taxed on foreign income so they can compete in the global marketplace.
To claim the benefit of his cost basis in the securities sold and the foreign tax credit, he will have to prepare and file a U.S. income tax return for the year of the sale.
Raiola also factored in a partial foreign tax credit that the players can use on their U.S. returns, along with so-called "jock taxes, " in which some states require visiting athletes to pay state income tax for each game they play there.
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Upon receiving the dividend, X Co. is permitted to utilize a foreign tax credit to reduce the U.S. tax applied to the dividend, preventing the same income from being taxed twice: once when earned by Foreign Co. and a second time when distributed to X Co.
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.
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Credit is more of a concern, particularly for exporters, who are finding foreign lines of credit much harder to acquire.
Like swaps on interest rates and foreign currency, credit swaps outstanding dwarf the underlying bonds in circulation.
There were also reports Monday that India has banned the purchase of foreign gold on credit, in order to curb speculation.
But however often they vote, democracies cannot make foreign lenders extend credit.
In anticipation of the new regulations, DB set up a new derivative exchange-clearing unit called Markets Clearing for listed and over-the-counter derivatives for interest rates, foreign exchange, credit, commodities and equities contracts.
In 2003, following significant publicity regarding the use of foreign accounts and credit card arrangements by U.S taxpayers, the IRS offered significant penalty relief for taxpayers participating in the OVCI which coincided with strong tax enforcement efforts under the OCCP.
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"Speaking in terms of JGB investments, investors who need yield will ultimately extend the maturity of JGBs they are buying, and those who don't want to do that or can't do that will buy other things like foreign bonds or credit, and in some cases equity, " said Kenji Sakaguchi, chief investment officer at Prudential Investment Management Japan Co.
Business leaders say some companies verge on bankruptcy because they cannot extend lines of credit with foreign suppliers.
Nearly every big-ticket item that Americans consume is paid for with borrowed money, with foreign lenders supplying the credit.
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