Andrew Mitchel LLC

International Tax Blog - New and Interesting International Tax Issues


Famous Tax Quotes - Double Taxation Cannot Always Be Avoided

2013-08-30

Famous Tax Quote Logo

The following is a quote from the Tax Court regarding the computation of the foreign tax credit limitation:

[Elimination of double taxation is] admittedly the objective of the foreign tax credit. But . . . this objective cannot always be fully achieved.

Perkin-Elmer Corp. v. Commr., 103 T.C. 464 (1994).

Tags: 901 Foreign Tax Credits, Other - Famous Tax Quotes