Translation of "Crédit de l'Ontario pour impôt étranger " (French → English) :

In the PSD, subject to various eligibility conditions, Member States are obliged to exempt from taxation (or to grant credit for the taxation occurred abroad) profit distributions received by parent companies from subsidiaries of another Member State.

In the PSD, subject to various eligibility conditions, Member States are obliged to exempt from taxation (or to grant credit for the taxation occurred abroad) profit distributions received by parent companies from subsidiaries of another Member State.

- Ensuring that EU grant assistance leverages financing from other sources including the European Investment Bank (EIB), bilateral grants and credit schemes, commercial bank loans, foreign direct investment, and revenue generated from consumer charges, fees or taxes

For example, under imputation systems applied in a number of Member States, whereas a tax credit is granted to resident shareholders (individual or corporate) for the tax paid on a company, that credit is usually not available to non-resident shareholders and is not normally granted in respect of foreign dividends.

For example, under imputation systems applied in a number of Member States, whereas a tax credit is granted to resident shareholders (individual or corporate) for the tax paid on a company, that credit is usually not available to non-resident shareholders and is not normally granted in respect of foreign dividends.

To resolve this difficulty, some Member States allow foreign tax to be credited to the domestic tax payable (imputation or tax credit method) while others which exempt the profits of foreign undertakings allow foreign losses to be deducted temporarily in some cases and to be reincorporated at a later date into the results of the head office to the extent of the amounts previously deducted (deduction method with subsequent reincorporation).2 (See annexes) In order to take account of the different practices in Member States but also to rationalize those practices, the proposal for a Directive envisages two technical methods for taking loss ...[+++]es into account that are designed, among other things, to facilitate new transfrontier activities, which, during the start-up phase, often generate losses for undertakings.