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The Foreign Tax Credit (FTC) is a credit for income taxes paid to a foreign government as a result of foreign income tax withholdings. It is available to anyone with income from a foreign source whether from working or investment abroad.
In the GCC, FTC is applicable in Kuwait and Oman. In Kuwait, it is applicable where there is an allowance of credit in the DTAA. In Oman, FTC approval is given by the Director of Taxation on a base-by-case basis. It can be given even without a tax treaty with the source country.
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