Article 122 sets strict limits on the amount of foreign tax credit a taxpayer can claim. The deduction is capped at the lesser of: (1) the actual foreign tax paid, or (2) the Omani tax that would have been payable on that specific foreign-sourced income. Essentially, the credit cannot exceed the Omani tax due on that income, ensuring that the foreign credit only offsets the tax on the foreign income and does not reduce the tax due on purely Omani-sourced profits. In no case can the total credit exceed the total tax payable for the year.