Dividend taxation: domestic companies may reduce received subsidiary dividends when the subsidiary's dividend tax is paid.

Amendment permits a domestic company to reduce its dividend distribution tax base by dividends received from a subsidiary if the subsidiary has paid tax on those dividends or, in the case of a foreign subsidiary, if tax on those dividends is payable by the domestic company under the specific foreign-dividend tax provision, and provides that the same dividend amount may not be taken into account for reduction more than once.

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