Tax gross-up mechanism for distributed profits: net dividends must be grossed up so tax on the grossed amount equals net distributed profits. Requires that net distributed profits (dividends after permitted reductions) be increased to an amount which, after reduction of tax at the prescribed ... Summary
Tax gross-up mechanism for distributed profits: net dividends must be grossed up so tax on the grossed amount equals net distributed profits.
Requires that net distributed profits (dividends after permitted reductions) be increased to an amount which, after reduction of tax at the prescribed rate, is equal to the net distributed profits, thereby establishing a gross-up mechanism for computing tax on distributed profits.
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