qualified tax
Defined in 1 place of the United States Code.
For purposes of subparagraph (A), the term “qualified tax” means a tax paid to a foreign country (other than the foreign country referred to in subparagraph (A)) if—
(i) the dividend to which such tax is attributable is subject to taxation on a net basis by the country referred to in subparagraph (A), and
(ii) such country allows a credit against its net basis tax for the full amount of the tax paid to such other foreign country.
Source
- 1997–present26 U.S.C. § 901Internal Revenue Code · Taxes of foreign countries and of possessions of United States · for purposes of this title
For purposes of subparagraph (A), the term “qualified tax” means a tax paid to a foreign country (other than the foreign country referred to in subparagraph (A)) if—
(i) the item to which such tax is attributable is subject to taxation on a net basis by the country referred to in subparagraph (A), and
(ii) such country allows a credit against its net basis tax for the full amount of the tax paid to such other foreign country.
Source
- 2005–present26 U.S.C. § 901Internal Revenue Code · Taxes of foreign countries and of possessions of United States · for purposes of this title