PPL: How to Determine Whether a Foreign Tax is Creditable

8 Pages Posted: 22 Mar 2013

Date Written: March 18, 2013


PPL Corp. v. Commissioner presents the question whether the creditability of a foreign tax must be determined by applying the requirements of the section 901 regulations to the foreign statute’s formula for the tax or by applying those requirements to an algebraically equivalent reformulation of the statutory formula. The decision will likely turn on whether the Supreme Court agrees with PPL that tax law’s general substance-over-form principle authorizes reliance on an algebraic reformulation to determine whether a foreign tax is creditable for U.S. tax purposes.

Keywords: foreign tax credit, PPL, section 901, regulations

Suggested Citation

Smith, Patrick J., PPL: How to Determine Whether a Foreign Tax is Creditable (March 18, 2013). 138 Tax Notes 1351 (March 18, 2013), Available at SSRN: https://ssrn.com/abstract=2236711

Patrick J. Smith (Contact Author)

Ivins, Phillips & Barker ( email )

1717 K Street, NW Suite 600
Washington, DC 20006
United States

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