Treasury Moves to Ease Limits on Foreign Tax Credits After Companies Object

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WASHINGTON—The U.S. Treasury Division is softening its limits on international tax credit, responding to companies which have been warning about double taxation.

The division issued corrections Tuesday to guidelines launched in December which have drawn livid complaints from multinational firms. The change makes clear that international earnings taxes don’t have to exactly mirror U.S. income-tax guidelines for when sure prices may be deducted to be able to qualify for international tax credit.

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