Warning message regarding Double Taxation appears when entering foreign income

Article ID

ias-11403

Article Name

Created Date

15th October 2013

Product

IRIS Personal Tax

Problem

When entering foreign income within IRIS Personal Tax a warning message will appear "As there is a double taxation agreement with this Country or Territory, the credit for foreign tax allowed may need to be restricted. Please check" For example when entering Foreign income such as Employment, Sole trades, Partnerships, Dividends & Interest, Pensions, Social Security Benefits, Properties, Premium on Lease, Disposals of Holdings in Offshore Funds, Life Assurance Policies, Trusts, Companies or Other Entities and Any other income.

Resolution

This is a new feature to Version 11.3 which is due out October 2013. This warning message is appearing because IRIS Personal Tax does not deal with the the Double Taxation Agreement therefore users are advised to restrict the amount of foreign tax that has been entered in.

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