Cap. 123 Art. 82Credit for the underlying tax.

The provision concerning unilateral relief shall, where the income under article 80 includes a dividend distributed by a company not resident in Malta, hereinafter in this article referred to as "the overseas company", have effect so that tax not chargeable directly or by deduction in respect of the dividend shall be deemed to fall under the provision of article 80(b) and shall be taken into account in computing the credit to be given against income tax in respect of the dividend. For the purposes of this article -

(a) "tax not chargeable directly or by deduction in respect of the dividend" shall include tax payable in respect of a dividend distributed by a company which is related to the overseas company as specified in paragraph (b), hereinafter referred to in this article as "related company", where such dividend forms part of a chain of successive dividends distributed from one related company to another ending in the dividend received by the person making the claim, or on the profits out of which such dividend was distributed;

(b) a company is related to the overseas company if the overseas company controls, directly or indirectly, not less than 10% of the voting power of the related company.