(1) The amount of tax reductions or exemptions and tax credits for consolidated corporations deducted from the amount of calculated consolidation tax shall be the sum of the amount of tax reductions calculated by each consolidated corporation and the amount of tax credits. <Amended on Dec. 24, 2018>
(2) In applying paragraph (1), the amount of tax reductions or exemptions and the amount of tax credits for each consolidated corporation shall be calculated by applying tax reductions or exemptions and tax credits under this Act and the Act on Restriction on Special Cases concerning Taxation, deeming the calculated amount of tax of each consolidated corporation to be the calculated amount of tax under Article 55, and Article 132 (1) of the Act on Restriction on Special Cases concerning Taxation shall apply to each consolidated corporation, deeming the consolidated group to be one domestic corporation. <Amended on Dec. 15, 2015; Dec. 24, 2018>
(3) Article 59 (1) shall apply mutatis mutandis to the procedures for applying tax reductions or exemptions and tax credits, and Articles 44-3 (2), 46-3 (2) and 59 (1) shall apply mutatis mutandis to the succession of tax reductions or exemptions and tax credits following qualified merger or division of consolidated corporations. <Added on Dec. 24, 2018>
(4) Where tax is reduced or exempted when calculating tax reductions or exemptions for each consolidated corporation, matters necessary for calculating the amount of tax to be reduced or exempted, etc. shall be prescribed by Presidential Decree. <Amended on Dec. 24, 2018>[This Article Wholly Amended on Dec. 30, 2010][Title Amended on Dec. 24, 2018]