Corporate Foreign Tax Credit, Tax Year 2017 One SheetPDF What is the Corporate Foreign Tax Credit? The corporate foreign tax credit is a set of provisions designed by Congress to eliminate potential double taxation on the foreign-source income of U.S. corporations. Double taxation occurs when an item of income is taxed by both the United States, as the corporation's country of residence, as well as by the country where the income was generated. The current provisions allow U.S. businesses to credit their foreign taxes paid, accrued, or deemed paid against their U.S. income tax liability, subject to limitations that prevent taxpayers from using taxes paid in a country with a higher tax rate than the U.S. to offset their tax liability on U.S. income. Corporations are required to calculate this credit separately for different income categories to prevent taxpayers from combining income that is traditionally taxed at low rates, such as dividend or interest income, with income that is typically taxed at higher rates, such as active business income. The corporate foreign tax credit is reported on Form 1118, Foreign Tax Credit - Corporations. For information about selected terms and concepts and a description of the data sources and limitations, please visit Corporate Foreign Tax Credit Study Metadata. Statistical Tables SOI Bulletin Articles Archive Statistical tables The following tables are available as Microsoft Excel® files. A free Excel viewer is available for download, if needed. U.S. Corporation Income Tax Returns with a Foreign Tax Credit Data presented Classified by Tax years Table 1: Total Assets, Income, Taxes, and Credits, and Foreign Income, Deductions, and Taxes Major and selected minor industry 2020XLSX 2018XLSX 2017XLSX 2016XLSX 2015XLSX 2014XLS 2013XLS 2012XLS 2011XLS 2010XLS 2009XLS 2008XLS 2007XLS 2006XLS 2005XLS 2004XLS 2003XLS 2002XLS 2001XLS 2000XLS 1999XLS 1998 (by NAICS)XLS 1998 (by SIC)XLS 1997XLS 1996XLS 1995XLS 1994XLS 1993XLS 1992XLS Table 1.1: Returns with Income in Excess Credit Position: Foreign Income, Deductions, and Taxes for Tax Year 2010 only Major and selected minor industry 2010XLS Table 1.2: Returns with Income in Excess Limitation Position: Foreign Income, Deductions, and Taxes for Tax Year 2010 only Major and selected minor industry 2010XLS Table 2 [Discontinued]: Foreign Income, Deductions, and Taxes Industrial sector and by type of foreign income for which separate credit was computed 2006XLS 2005XLS 2004XLS 2003XLS 2002XLS 2001XLS 2000XLS 1999XLS 1998XLS 1997XLS 1996XLS 1995XLS 1994XLS 1993XLS 1992XLS Table 2: Foreign Income, Deductions, and Taxes Note: Listed as 'Table 3' prior to Tax Year 2006. Selected country to which foreign taxes were paid 2020XLSX 2018XLSX 2017XLSX 2016XLS 2015XLS 2014XLS 2013XLS 2012XLS 2011XLS 2010XLS 2009XLS 2008XLS 2007XLS 2006XLS 2005XLS 2004XLS 2003XLS 2002XLS 2001XLS 2000XLS 1999XLS 1998XLS 1997XLS 1996 XLS 1995XLS 1994XLS 1993XLS 1992XLS Table 3: Foreign Income, Deductions, and Taxes Category of foreign income for which separate credit was computed 2020XLSX 2019XLSX 2018XLSX SOI Bulletin articles The following are available as PDF files. A free Adobe® Reader is available for download, if needed. Corporate Foreign Tax Credit 2018PDF 2016–2017PDF 2013PDF 2012PDF 2011PDF 2010PDF 2009PDF 2008PDF 2007PDF 2006PDF 2005PDF 2004PDF 2003PDF 2002PDF 2001PDF 2000PDF 1999PDF 1998PDF 1997PDF 1996PDF 1995XLS 1994PDF Statistics of Income Studies of International Income and Taxes Archives Foreign Tax Credit, Claimed on Corporation Income Tax Returns
