Foreign Tax Credit Relief

Hello, I have capital gains of listed shares (US shares, Canada shares and Hong Kong shares) from Hong Kong, where Double Taxation Agreement is applied. When I report the self-assessment, if I claim the foreign tax credit relief, should the country of these gains be "Hong Kong" and group the listed shares under same country for the relief claim? ie. line 1: Hong Kong - HK shares (to enter the tax % charged for HK shares) line 2: Hong Kong - US shares (to enter the tax % of charged for US shares) line 3: Hong Kong - Canada shares (to enter the tax % charged for Canada shares) Is it correct? Thanks.

Hi
If the share account is managed/based in Hong Kong that it will just be the rate for Hong Kong that is used irrespective of where the shares were.

Thanks a lot. If the US\China shares (and their dividends) were deducted by corresponding US\China withholding tax while HK shares(and their dividends) has no tax deduction, What is the correct input into the system? 1) Separate each country of share/dividend to different income source by country 2) or They have to group together (how to input the tax relief in this case)

Hi,

You should enter each country's dividend and tax deductions separately on the tax return. You can combine multiple entries for the same country together under one total dividend figure and one total tax deduction or one total whitholding tax deduction.

Thank you.