TAX ON LOAN FROM OVERSEAS

 

TAX ON LOAN FROM ABROAD

Taxes on foreign financing would theoretically be taxes that a person will have to pay on money they receive from abroad as would be the case for any income.

A tax on a credit coming from abroad or even from the country where the borrower resides makes no sense as long as he is going to repay this loan according to a defined credit agreement.

Overseas loans are not considered as income as they need to paid back and in some cases the interest paid can even be deducted from the tax paid bay the borrower, tax is due only in case of non- repayment of the loan.


LOAN FROM ABROAD

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