If I paid tax abroad on dividends from overseas stocks or funds, do I have to pay again?

The Income Tax Act provides that if foreign income tax has been paid, the domestic withholding tax is reduced by the amount of that foreign income tax.

If the tax paid abroad exceeds the domestic withholding tax, the excess is disregarded. The method of crediting foreign taxes paid on indirect investments through funds has partly changed under recent tax law amendments, so check the National Tax Service's guidance.