(1) Where dividends are paid to beneficiaries of any corporate taxable trust property, the amount of such dividends shall be deducted from the amount of income for the business year in which the distribution is subject to the surplus disposal.
(2) Where no income tax or corporate tax is imposed on dividends paid to stockholders, etc., under this Act and the Act on Restriction on Special Cases concerning Taxation: 1. Where no income tax or corporate tax is imposed on dividends paid to stockholders, etc., under this Act and the Act on Restriction on Special Cases concerning Taxation; provided, paragraph (1) shall apply where stockholders, etc., who received dividends are partnership firms subject to special taxation for partnership firms pursuant to Article 100-15 of the Act on Restriction on Special Cases concerning Taxation, in which cases the partners (if all or some of the partners are higher partnership firms under paragraph (3) of that Article, referring to partners who have invested in the higher partnership firms) are fully imposed income tax or corporate tax on the incomes corresponding to dividends allocated pursuant to Article 100-18 of that Act. <Amended on Dec. 31, 2023>
(3) The trustee of any corporate taxable trust property who wishes to be governed by paragraph (1) shall apply for income deduction as prescribed by Presidential Decree.[This Article Added on Dec. 22, 2020]