foreign credit


foreign credit
Credit provided by a bank to a customer in a foreign country or another state by the transmission of funds. 10 Am J2d Banks § 308.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

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  • foreign tax credit — or deduction A U.S. citizen or resident who incurs or pays income taxes to a foreign country on income subject to U.S. tax may be able to claim some of these taxes as a deduction or a credit against the U.S. income tax. I.R.C. No.No. 27 and 901… …   Black's law dictionary


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