(1) Where a corporation fails to pay dividend or distribution in the course of disposition of profits or earnings until three months pass from the date of determination of such disposition, income tax shall be withheld, considering such dividend income has been paid on the date on which three months have elapsed: Provided, That, if dividend income is not paid by the end of February following the year of the determination in accordance with disposition determined between November 1 and December 31, income tax shall be withheld, considering the dividend income was paid on the last day of February following the year in which the date of determination of such disposition arrives.
(2) Income tax shall be withheld from dividend disposed of pursuant to Article 67 of the Corporate Tax Act, considering the dividend income has been paid on any of the following dates:
1. Where the tax base for corporate tax is determined or reassessed: The date on which a notice of changes of income prescribed by Presidential Decree is received;
2. Where the tax base for corporate tax is reported: The date of such report thereof, or report of reassessment.
(3) It shall be governed by Presidential Decree as to cases where income tax is withheld, considering the income is paid on the date different from the date of payment of interest income or dividend income, other than those defined in paragraphs (1) and (2).[This Article Wholly Amended by Act No. 10408, Dec. 27, 2010]