Foreign Tax Law and Legal Definition
Foreign tax includes “only a tax imposed by the authority of a foreign country. A tax-imposed by a political subdivision of a foreign country is considered to be imposed by the authority of that foreign country.” [26 CFR 1.164-3; Title 26-Internal Revenue; Chapter I-Internal Revenue Service, Department Of The Treasury; Subchapter A-Income Tax; Part 1-Income Taxes; Normal Taxes And Surtaxes; Computation Of Taxable Income; Itemized Deductions For Individuals And Corporations]
