Disposal By the first of the Public Procurement Act (Official Gazette of August 9) provides that for taxable periods beginning on or after January 1, 2011, amending Article 30 paragraph 2 of the Consolidated Law Corporate Income Tax (TRLIS), which reads as follows:
- The deduction referred to in the preceding paragraph shall be 100% if the dividends or shares of profits come from entities in which the percentage of participation, direct or indirect, is equal to or greater than five percent, provided that such percentage has been continuously for the previous year to date it is required to distribute the benefit or, failing that, to remain for the time necessary to complete a year.
- The tax credit also will be 100% over profit sharing from mutual life insurance, social security institutions, and mutual guarantee associations.
- The deduction will also apply in cases where it has been that such percentage, but nevertheless, without having transmitted the participation, the percentage had been reduced to a minimum of three percent as a result of the investee has conducted a special prosecutor under the regime established in Chapter VIII of Title VII of this Act This applies to dividends paid within three years from the completion of the operation while in the year relating to the distribution does not fully convey the participation or percentage is below the minimum requirement of three percent.
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