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9.1. Unilateral and Treaty Based Methods Available for the Elimination or Mitigation of Double Taxation

Due to the prevailing territorial system, there is no provision for unilateral foreign tax credit under domestic law. However, withholding taxes on foreign passive income that is taxable in Guinea may be deducted as an expense from taxable income.

Below is a summary of the available methods for various income tax streams based on domestic law.

Royalty Copyright ND
Capital Gains ND
Dividends ND
Interest ND
Royalty Patent ND
Sales NC
Service Management NC
Service Technical NC
Royalty Trademark ND

The credit column shows the type of foreign tax credit granted when the receiving country receives a payment.  Four abbreviations are used for the type of foreign tax credit available:

  • NC means no credit but foreign withholding taxes can be deducted.
  • OC means ordinary credit, i.e., credit for foreign withholding taxes (e.g., withholding taxes).
  • IC means indirect credit, i.e., credit for underlying corporate taxes as well as foreign withholding taxes.
  • ND means no credit and no deduction for any foreign withholding taxes incurred.